Abu Dhabi on track to launch Murban futures trading in March | ZAWYA MENA Edition
ICE Futures Abu Dhabi (IFAD), which will host the futures contracts for Abu Dhabi’s flagship Murban crude oil, is on track to launch by the end of March 2021, the exchange’s operator said on Wednesday.
Stuart Williams, President of ICE Futures Europe Intercontinental Exchange, told a Gulf Intelligence webinar that IFAD and trading in Murban futures would be launched on 29 March 2021.
The launch, originally scheduled for the first half of 2020, was delayed due to the COVID-19 outbreak. The new launch date was announced in November last year.
Williams said IFAD had received approvals from the Bank of England and the Monetary Authority of Singapore. Bank of England’s approval will allow ICE Clear Europe, the clearing house, to clear contracts traded on IFAD.
Last year, approvals were obtained from Abu Dhabi Global Market, the United States, and Switzerland.
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