Launch of ICE's Singapore platform set for Nov 17

INTERCONTINENTAL Exchange (ICE) is set to launch its Singapore futures and clearing house - ICE Futures Singapore and ICE Clear Singapore - on Nov 17, the exchange and clearing house network said on Wednesday.

The launch, subject to final approval by the Monetary Authority of Singapore (MAS), will see five new contracts in its first tranche - mini Brent futures, mini gasoil futures, kilo gold futures, mini onshore renminbi futures and mini offshore renminbi futures.

"ICE Futures Singapore will offer a range of global and regional products designed to meet the needs of market participants for efficient trading and clearing services in their local jurisdiction," said Lucas Schmeddes, president and COO of ICE Futures Singapore and ICE Clear Singapore.

ICE also said that ICE Trade Vault, LLC has submitted a foreign trade repository application to MAS, which it said would "further support market participants' compliance with regulatory reform in the region".