ICE Futures Singapore is set to launch on November 17 this year with five new contracts including both onshore and offshort Reniminbi futures.
ICE has been gearing up for its Singapore launch since acquiring the Singapore Mercantile Exchange in 2013.
While it was previously unconfirmed which products it would be launching, the exchange group has now confirmed that its five contracts will consist of three commodities products and the mini 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, ICE Futures Singapore and ICE Clear Singapore.
“We are pleased to announce the November launch and would like to thank our clearing members and customers for their ongoing support and interest.”
ICE will be joined by European counterparts Eurex in the region, which also plans to set up an exchange and clearing house. In the latest issue of The Trade Asia magazine, we look at the reasons behind the two exchange’s expansion into Singapore.