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ICE delays opening of S’pore futures exchange

SINGAPORE — Intercontinental Exchange (ICE) has delayed the start of a new futures marketplace in Singapore, which was scheduled to open March 17, the Atlanta-based company said late yesterday (Feb 12).

SINGAPORE — Intercontinental Exchange (ICE) has delayed the start of a new futures marketplace in Singapore, which was scheduled to open March 17, the Atlanta-based company said late yesterday (Feb 12).

ICE sees opening the market by the end of June, according to ICE spokesman James Dunseath.

“Given the amount of work involved, realistically we are now looking at a first-half launch,” Mr Dunseath said, declining to comment on the reason for the delay or the exact new date.

ICE said in December it would offer products linked to the Chinese yuan, Brent crude and gold in Singapore. ICE spent US$150 million (S$204 million) last year to buy Singapore Mercantile Exchange, gaining a licence to trade and clear transactions in the nation. BLOOMBERG

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