ICE cancels all SMX contracts, plans relaunch
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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Porsche posts Q1 profit drop on ramp-up costs
IBM plots US$730 million expansion of Canadian semiconductor site
Seatrium unit to fully redeem S$500 million worth of floating-rate bonds early
Yeo Guat Kwang, John Chen retiring from corporate boards
US: Wall St opens higher
Air China orders homegrown C919s in challenge to jet duopoly