ICE announces Singapore operations for 2015 05 November 2014Singapore Reporter: Stephanie Palmer
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Intercontinental Exchange (ICE) plans to launch its ICE Futures Singapore and ICE Clear Singapore operations in March 2015.
The exchange and clearing network acquired Singapore Mercantile Exchange and Singapore Mercantile Exchange Clearing Corporation in November 2013 and retained the licences to operate as an approved exchange and clearinghouse, respectively.
Newly listed and cleared products should be announced soon, subject to final regulatory approval from the Monetary Authority of Singapore.
This new Asian hub will be co-headed by ICE’s vice president for the Asia Pacific region, Jennifer Ilkiw, and president and COO of ICE Futures Singapore and ICE Clear Singapore, Lucas Schmeddes.
ICE has also submitted a foreign trade repository application to leverage technology in and further support regional market participants
The exchange has had a presence in Singapore for 14 years, due to its global oil business, but the new operations coincide with the emergence of Singapore as a commercial hub for financial and commodity markets.
ICE operations in Asia will allow them it to offer additional global and regional products for hedging and trading. It will also expand the network available to provide trading, data, and risk management services to global market players.
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