ICE cancels all SMX contracts, plans relaunch
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INTERCONTINENTALExchange Group (ICE) said yesterday it has cancelled all contracts listed on the Singapore Mercantile Exchange (SMX), a bourse it earlier acquired for US$150 million and expects to relaunch later in 2014.
The delisted contracts range from iron ore to pepper and metals and currencies, which SMX offered before ICE bought it in a deal that gives it a foothold in trading and clearing in Asia.
"ICE has delisted SMX contracts and a period of business transition is currently in place in order for ICE to implement technology changes in consultation with the market and regulator," the Atlanta-based exchange said in a statement.
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