ICE Brent Crude Marks 30th Year as Leading Global Oil Benchmark; TAIFEX to Launch Taiwanese Dollar Brent Futures | Financial Buzz

ICE Brent Crude Marks 30th Year as Leading Global Oil Benchmark; TAIFEX to Launch Taiwanese Dollar Brent Futures

Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global
exchanges and clearing houses and provider of data and listings
services, marked the 30th anniversary of its Brent futures
complex, which serves as the primary reference price for global crude
oil.

The ICE Brent futures contract was established following the discovery
of the Forties and Brent North Sea oilfields in the 1970s. The product
specification of the contract has evolved along with the commercial
market, enabling it to reflect global supply and demand fundamentals and
to reflect changes and investment in drilling technology, as well as new
fields and discoveries. Since then, ICE has introduced over 500 futures
and options contracts based on crude and refined oil, many of which are
related to Brent.

In addition, the Taiwan Futures Exchange (TAIFEX) and ICE Futures Europe
have entered into an agreement for TAIFEX to licence the ICE Brent Index
and subsequently offer trading in Brent futures for Taiwanese
participants from July 2, 2018.

The launch of TAIFEX Brent futures provides the opportunity for both
commercial and retail participants in Taiwan to trade the leading crude
oil benchmark in their local currency and regulatory jurisdiction and
follows increasing demand across the region for access to the deep and
diverse liquidity and participation that underpins the Brent market.

Stuart Williams, President, ICE Futures Europe said: “As we celebrate
the 30th anniversary of Brent this month, it continues to be
an exciting time for the world’s oil benchmark and we are delighted to
enter into an agreement with TAIFEX for the exchange to offer Brent
futures to their customers.”

Dr. Len-Yu Liu, Chairman of TAIFEX said: “It’s a great pleasure to work
with ICE to launch this product. We believe a local currency-denominated
and small-sized contract will better cater for retail participants and
allow local investors to trade the world’s oil benchmark without bearing
currency risk. This cooperation product shall benefit both exchanges.”

Brent futures were first traded on the floor of the International
Petroleum Exchange in June 1988. The contract has subsequently delivered
21 years of consecutive annual trading volume records. With ICE’s
introduction of electronic trading in 2005, Brent’s share of the global
oil market doubled and the Brent futures market became more accessible
to participants around the world. Today, participants from the US and
Europe to the Middle East and Asia trade more than 1 million ICE Brent
futures and options contracts each trading day, representing over 1
billion barrels.

About Intercontinental Exchange

Intercontinental
Exchange (NYSE: ICE) is a Fortune 500 and Fortune Future 50 company
formed in the year 2000 to modernize markets. ICE serves customers by
operating the exchanges, clearing
houses and information services they rely upon to invest, trade and
manage risk across global financial and commodity markets. A leader in
market data, ICE Data
Services serves the information and connectivity needs across
virtually all asset classes. As the parent company of the New
York Stock Exchange, the company raises more capital than any other
exchange in the world, driving economic growth and transforming markets.

Trademarks of ICE and/or its affiliates include Intercontinental
Exchange, ICE, ICE block design, NYSE and New York Stock Exchange.
Information regarding additional trademarks and intellectual property
rights of Intercontinental Exchange, Inc. and/or its affiliates is
located at http://www.intercontinentalexchange.com/terms-of-use.
Key Information Documents for certain products covered by the EU
Packaged Retail and Insurance-based Investment Products Regulation can
be accessed on the relevant exchange website under the heading “Key
information Documents (KIDS)”.

Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995 — Statements in this press release regarding ICE’s business
that are not historical facts are “forward-looking statements” that
involve risks and uncertainties. For a discussion of additional risks
and uncertainties, which could cause actual results to differ from those
contained in the forward-looking statements, see ICE’s Securities and
Exchange Commission (SEC) filings, including, but not limited to, the
risk factors in ICE’s Annual Report on Form 10-K for the year ended
December 31, 2017, as filed with the SEC on February 7, 2018.

SOURCE: Intercontinental Exchange

ICE-CORP

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