Intercontinental Exchange to launch new exchange in Abu Dhabi Glo...
(WorldNews Africa)

LONDON--(BUSINESS WIRE)- - Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced that it will launch a new exchange, ICE Futures Abu Dhabi (IFAD), to host the world`s first futures contracts based on Abu Dhabi National Oil Company`s (ADNOC) Murban crude oil. On November 4, 2019, Abu Dhabi`s Supreme Petroleum Council (SPC) announced that it would implement a new pricing mechanism for ADNOC`s Murban crude. As a result, Murban pricing will move from a retroactive official selling price to market-driven, forward pricing using a Murban futures contract as its price marker. The SPC also...