In November 2019, ICE announced its plans to launch ICE Futures Abu Dhabi (IFAD), with the Abu Dhabi National Oil Company (ADNOC) and nine of the world’s largest energy traders partnering with ICE on the launch.
IFAD, which launched in March 2021, is home to the world’s first Murban Crude futures contract, offering transparent pricing for this global crude for the first time. By establishing a secondary market and offering inter-commodity spreads, participants have more options to manage risk and clear trades.
ICE Murban Futures is complemented with a range of cash settled derivatives, which IFAD launched for day one of trading. The full list of contracts can be found here.
Contracts traded at IFAD are cleared at ICE Clear Europe, a leading energy clearing house, and clear alongside global oil benchmarks - ICE Brent, ICE WTI, ICE (Platts) Dubai and ICE Low Sulphur Gasoil - allowing customers to benefit from associated margin offsets and delivering capital efficiencies.
Learn how the Murban futures contracts are delivered and settled.
If you do not meet the balance sheet or volume thresholds set by the Murban equity producers, there is a new way to secure a physical offtake. Learn how you can trade Murban Crude barrels with this guide.
ICE’s Head of Oil Market Research, Mike Wittner writes for the Oxford Institute for Energy Studies on what makes Murban a potential benchmark.