Amid increasing demand for additional products on the foreign exchange market, the InterContinental Exchange (NYSE:ICE) has announced that it has added new tradable contracts, including US dollar crosses with the Israeli shekel, the Turkish lira and the Polish zloty.
In addition, the Turkish lira and the Polish zloty contracts will get a euro cross, where demand is high due to the geographical proximity of Poland and Turkey to the eurozone.
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The new contracts reflect a rising interest in the trading of emerging-market currencies, and they compliment existing emerging-market currency offerings by the exchange, including the Brazilian real, Colombian peso, Indian rupee, Mexican peso and Russian ruble.
Following are the contract codes for the new currency pairs offered on the Intercontinental Exchange: Israeli shekel/US dollar: ILS; Polish zloty/euro: PLE; Polish zloty/US dollar: PLN; Turkish lira/euro: ETR; and Turkish lira/US dollar: TRM.
The contract sizes are for 1,000,000 Israeli shekels; 500,000 Turkish lira and 500,000 Polish zloty. They will be traded between 1:00 AM – 10:00 PM GMT with a block trade minimum of five contracts.