LONDON--(BUSINESS WIRE)-- Intercontinental Exchange (NYSE:ICE), the leading global network of exchanges and clearing houses, announced today that ICE Futures Europe will introduce a new physically delivered containerised white sugar futures contract. ICE Futures Europe expects to launch the contract in the first quarter of 2016, with a first maturity of August 2016, subject to satisfactory completion of applicable regulatory processes.

The containerised white sugar futures contract will trade at ICE Futures Europe alongside the existing physically delivered white sugar futures contract. Transported in containers, rather than break-bulk vessels, the containerised contract will be closely aligned with standard shipping procedures for refined sugar.

“In recent years the underlying physical market for refined sugar has evolved from break-bulk to containers, with the latter now accounting for the majority of shipments. The launch of the containerised white sugar contract follows extensive consultation with the sugar industry and provides a choice of delivery method, as well as an efficient hedging mechanism,” said Ben Jackson, President and Chief Operating Officer, ICE Futures U.S.

ICE Futures U.S., Intercontinental Exchange’s U.S. based futures exchange, also offers two sugar futures contracts: the sugar no. 11 contract, which allows for physical delivery of raw cane sugar at a variety of global delivery points, and the sugar no. 16 contract, which allows for physical delivery of raw cane sugar within the U.S.

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.

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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

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Intercontinental Exchange
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or
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Source: Intercontinental Exchange