ICE Clear Singapore Announces First Three Clearing Members
Intercontinental Exchange (NYSE: ICE), the leading global network of
exchanges and clearing houses, today announced that KGI Ong Capital Pte.
Ltd., Phillip Futures Pte Ltd and UOB Bullion and Futures Limited
(UOBBF) have been approved as the first three clearing members for ICE
Clear Singapore. ICE Futures Singapore and ICE Clear Singapore have
received all regulatory approvals from the Monetary Authority of
Singapore (MAS).
“We are honoured to be one of the first clearing members of ICE Clear
Singapore. As we are witnessing a growing demand for ICE products from
Asia, we are pleased to offer these products to our clients and we are
committed to be part of this dynamic growth,” said Mr Ong Ka Thai,
President & CEO of KGI Ong Capital.
“It is our great pleasure to be among the first brokers to obtain
clearing membership of ICE Clear Singapore,” said Mr. Teyu Che Chern,
CEO of Phillip Futures. “With PhillipCapital’s network offices located
globally, we see good potential in our cooperation with ICE Clear
Singapore to continuously provide our regional clients with suitable
products for their trading needs.”
Mr Matthew Png, Managing Director and CEO, UOBBF, said that the clearing
membership complements the Bank’s trading services and broking
solutions. “Asian investors and corporates are seeking to diversify
their investments through various futures and options instruments that
are listed on ICE. As a Singapore-based broker, we are best placed to
support our clients’ trading needs in the region by providing timely and
reliable clearing services for ICE Clear Singapore products and
transactions during regular business hours,” Mr Png said.
“We are pleased to welcome KGI Ong Capital, Phillip Futures and UOB
Bullion and Futures as the first clearing members of ICE Clear
Singapore,” said Lucas Schmeddes, President & COO, ICE Futures
Singapore
and ICE Clear Singapore. “We continue to see strong interest from market
participants and we are working with them through the onboarding
process. We will continue to update the market on our progress in
regards to member and customer preparations and launch details.”
The establishment of ICE Futures Singapore and ICE Clear Singapore will
support an expanded customer base and the further development of the
derivatives markets in Asia with a local exchange and clearing presence.
ICE has had a presence in Singapore since 2000 serving customers in the
global energy markets. In recent years, Asia-based trading activity in
our benchmark commodity and interest rate products has been rising as
the region assumes a greater role in global derivatives markets.
About Intercontinental Exchange
Intercontinental Exchange (NYSE:ICE) operates the leading network of
regulated exchanges and clearing houses. ICE’s futures exchanges and
clearing houses serve global commodity and financial markets, providing
risk management and capital efficiency. The New York Stock Exchange is
the world leader in capital raising and equities trading.
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 www.intercontinentalexchange.com/terms-of-use
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, 2014, as filed with the SEC on February 5, 2015.
SOURCE: Intercontinental Exchange
ICE-CORP
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