Intercontinental Exchange Focuses on Renminbi & Commodities Trading in Singapore
- The first set of offerings on ICE Futures and ICE Clear Singapore are mostly commodity based, with Brent crude, gold, cotton and white sugar joining the Chinese yuan to open the company’s books in the region.
After the Intercontinental Exchange (NYSE:ICE) purchased the Singapore Mercantile Exchange and the Singapore Mercantile Exchange Clearing Corporation last year, it has become the first non-Asian exchange to own a Clearing House Clearing House A clearing house is defined as an intermediary between two parties, a buyer and seller, which helps facilitate the overall process from trade inception to settlement. Clearing houses streamline the exchange of payments, securities, or derivatives transactions.The clearing house is situated between two clearing firms who also helps reduce the risk of either member firm failing to honor their respective trade settlement obligations.Buyers and sellers enter into legally binding agreements for the e A clearing house is defined as an intermediary between two parties, a buyer and seller, which helps facilitate the overall process from trade inception to settlement. Clearing houses streamline the exchange of payments, securities, or derivatives transactions.The clearing house is situated between two clearing firms who also helps reduce the risk of either member firm failing to honor their respective trade settlement obligations.Buyers and sellers enter into legally binding agreements for the e Read this Term in the region. Earlier this year, it rebranded the acquired entities to ICE Futures and ICE Clear Singapore and unveiled its plans to restart operations in March 2015.
Following feedback from local market participants, the Intercontinental Exchange (NYSE:ICE) announced today the specifications of the first five futures contracts to be listed for trading and clearing at ICE Futures Singapore and ICE Clear Singapore, subject to a regulatory approval by the Monetary Authority of Singapore (MAS).
The first five futures contracts are on Mini ICE Brent Crude, One-kilo Gold, Chinese Cotton No.1, Chinese White Sugar and the Chinese Renminbi.
The Intercontinental Exchange Inc. (NYSE:ICE) has also decided to Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term its repository technology in the region and ICE Trade Vault LLC submitted a foreign trade repository application to the MAS.
Intercontinental Exchange Inc.’s operating arms in the region, ICE Futures Singapore and ICE Clear Singapore, are headed by long-term industry veteran Lucas Schmeddes, serving as president and chief operating officer, previously working at ICE Endex in the Netherlands, which constitutes the company’s Dutch gas and power derivatives business.
Following is a table of the contract specifications for InterContinental Exchange’s offerings in Singapore.
ICE Singapore Futures Contract Specifications
After the Intercontinental Exchange (NYSE:ICE) purchased the Singapore Mercantile Exchange and the Singapore Mercantile Exchange Clearing Corporation last year, it has become the first non-Asian exchange to own a Clearing House Clearing House A clearing house is defined as an intermediary between two parties, a buyer and seller, which helps facilitate the overall process from trade inception to settlement. Clearing houses streamline the exchange of payments, securities, or derivatives transactions.The clearing house is situated between two clearing firms who also helps reduce the risk of either member firm failing to honor their respective trade settlement obligations.Buyers and sellers enter into legally binding agreements for the e A clearing house is defined as an intermediary between two parties, a buyer and seller, which helps facilitate the overall process from trade inception to settlement. Clearing houses streamline the exchange of payments, securities, or derivatives transactions.The clearing house is situated between two clearing firms who also helps reduce the risk of either member firm failing to honor their respective trade settlement obligations.Buyers and sellers enter into legally binding agreements for the e Read this Term in the region. Earlier this year, it rebranded the acquired entities to ICE Futures and ICE Clear Singapore and unveiled its plans to restart operations in March 2015.
Following feedback from local market participants, the Intercontinental Exchange (NYSE:ICE) announced today the specifications of the first five futures contracts to be listed for trading and clearing at ICE Futures Singapore and ICE Clear Singapore, subject to a regulatory approval by the Monetary Authority of Singapore (MAS).
The first five futures contracts are on Mini ICE Brent Crude, One-kilo Gold, Chinese Cotton No.1, Chinese White Sugar and the Chinese Renminbi.
The Intercontinental Exchange Inc. (NYSE:ICE) has also decided to Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term its repository technology in the region and ICE Trade Vault LLC submitted a foreign trade repository application to the MAS.
Intercontinental Exchange Inc.’s operating arms in the region, ICE Futures Singapore and ICE Clear Singapore, are headed by long-term industry veteran Lucas Schmeddes, serving as president and chief operating officer, previously working at ICE Endex in the Netherlands, which constitutes the company’s Dutch gas and power derivatives business.
Following is a table of the contract specifications for InterContinental Exchange’s offerings in Singapore.
ICE Singapore Futures Contract Specifications