Abu Dhabi to Open ICE-Operated Exchange for Murban Oil Futures - Bloomberg:
Oil-rich Abu Dhabi plans next year to start a commodities exchange to offer trading in the emirate’s first crude futures contract.
The platform will be based in Abu Dhabi’s financial district and operated by Intercontinental Exchange Inc., according to people with knowledge of the situation. Atlanta-based ICE will be the majority owner, with Abu Dhabi National Oil Co. and several European and Asian oil companies and traders taking minority stakes, the people said, asking not to be identified because the information isn’t public.
Media officials for ICE and government-run Adnoc declined to comment.
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