ABU DHABI—Intercontinental Exchange Inc., a leading operator of global exchanges and clearing houses and provider of mortgage technology, data and listings services, Oct. 12 provided an update on its plans to launch ICE Futures Abu Dhabi (IFAD) and the world’s first futures contracts based on Murban crude oil.

Subject to the completion of regulatory approvals, ICE plans to launch IFAD and trading in Murban futures contracts late in first-quarter 2021. A more specific date for the launch of trading will be announced.

In November 2019, ICE announced its plans to launch IFAD, with the Abu Dhabi National Oil Co. and nine of the world’s largest energy traders partnering with ICE on the launch.

ICE Murban Futures will be a physically delivered contract with delivery at Fujairah in the United Arab Emirates (UAE) on a free on board (FOB) basis. ICE Murban Futures will be complemented with a range of cash settled derivatives which IFAD plan to launch for day one of trading. The full list of contracts include:

  • Crude Outright: Murban Singapore Marker 1st Line Future Contract;
  • Crude Outright: Murban Singapore Marker 1st Line Balmo Future Contract;
  • Crude Outright: Murban 1st Line Future Contract;
  • Crude Outright: Murban 1st Line Balmo Future Contract;
  • Crude Diff: Murban Singapore Marker 1st Line vs Brent Singapore Marker 1st Line Future Contract;
  • Crude Diff: Murban Singapore Marker 1st Line vs Brent Singapore Marker 1st Line Balmo Future Contract;
  • Crude Diff: Murban 1st Line vs Brent 1st Line Future Contract;
  • Crude Diff: Murban 1st Line vs Brent 1st Line Balmo Future Contract;
  • Crude Diff: Murban Singapore Marker 1st Line vs Brent 1st Line Future Contract;
  • Crude Diff: Murban Singapore Marker 1st Line vs Brent 1st Line Balmo Future Contract;
  • Crude Diff: Murban 1st Line vs WTI 1st Line Future Contract;
  • Crude Diff: Murban 1st Line vs WTI 1st Line Balmo Future Contract;
  • Crude Diff: Murban 1st Line vs Dated Brent (Platts) Future Contract;
  • Crude Diff: Murban 1st Line vs Dated Brent (Platts) Balmo Future Contract;
  • Gasoil Crack: Singapore Gasoil (Platts) vs Murban 1st Line Future Contract;
  • Fuel Oil Crack: Fuel Oil 380 CST Singapore (Platts) vs Murban 1st Line Future Contract;
  • Gasoline Crack: Singapore Mogas 92 Unleaded (Platts) vs Murban 1st Line Future Contract;
  • Naphtha Crack: Naphtha C+F Japan (Platts) vs Murban 1st Line Future Contract (in Bbls).

Contracts traded at IFAD will be cleared at ICE Clear Europe, a leading energy clearing house, and will clear alongside the most significant global oil benchmarks: ICE Brent, ICE WTI, ICE (Platts) Dubai and ICE Low Sulphur Gasoil: allowing customers to benefit from associated margin offsets and delivering meaningful capital efficiencies.