Phillip Futures Inc., a Chicago-based futures commission merchant (FCM) and member of the Singapore-based PhillipCapital Group, announced today that it is now a clearing member of ICE Futures in the US.
Founded in 2010, Phillip Futures is currently a clearing member of CME, CBOT, NYMEX, COMEX, NYSE-LIFFE, CFE and has recently also added Dubai Mercantile Exchange (DME) to the list. The FCM provides access to worldwide exchanges and through the PhillipCapital Group network it offers direct clearing to 18 Asian exchanges, including Singapore Exchange (SGX) and Tokyo Commodity Exchange (TOCOM). Phillip Futures also received National Futures Association (NFA) approval to become a Forex dealer member (FDM) and Forex firm in June 2014. The firm is expected to launch its OTC Forex offering to customers beginning this fall.
The second largest futures exchange in the U.S, ICE Futures’ contracts are cleared through ICE Clear. It is the home venue for some global soft commodity contracts including the benchmark sugar, cotton, coffee and cocoa, as well as cash settled grains and oilseeds. ICE Futures is also the exclusive market for Russell equity indexes and home to the US Dollar Index futures and options, along with sixty currency futures contracts.
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Lynette Lim, CEO and Director of Phillip Futures, said: “Since we began in 2010, Phillip Futures continues to grow and we are pleased to be able to offer our customers a broad range of North American natural gas and power, agricultural commodities and equity index futures and options contracts via ICE Futures US now.”