ICE to launch trading in Murban futures contracts in Abu Dhabi in Q1 2021

ICE to launch trading in Murban futures contracts in Abu Dhabi in Q1 2021

Intercontinental Exchange (ICE) will launch the world's first futures contracts based on Murban crude oil in Abu Dhabi by the end of the first quarter of 2021, it announced on Monday.

"Subject to the completion of regulatory approvals, ICE plans to launch IFAD (ICE Futures Abu Dhabi) and trading in Murban futures contracts late in the first quarter of 2021,“ it said in a statement.

"A more specific date for the launch of trading will be announced in due course.“

ICE had announced plans in November last year to launch IFAD with the Abu Dhabi National Oil Company (ADNOC) and nine of the world's largest energy traders including BP, GS Caltex, Inpex, JXTG, PetroChina, PTT, Shell, Total and Vitol.

The initial plan was to launch the platform in the first half of 2020,