Such Changes Would Bring MBS Closer to Corporate Bond Market --Kroszner
::
Kroszner: Data Suggest Home Mortgage Debt Hasn't Risen at All Since Spring '08
::
Kroszner: New Infrastructure for MBS Could Increase Transparency, Promote Indepndent Credit Analysis
::
Data Suggest Near-Term Challenges for Housing Mkt Stabilization --Kroszner
::
Kroszner: Investors Will Remain Skeptical of 2-Layer Securitized Products in Foreseeable Future
::
Kroszner: MBS Securitization Contracts Should be More Homogenous, Cash Flow Structures Less Complex
::
Securitization of MBS Still Worthy for Cost-Lowering Effects on Home Loans --FED's Kroszner
::
Securitizations Should Involve Fewer, Larger MBS Tranches --Kroszner
::
Correction: BOC Injects C$3bln in Term Repos
::
Six Gunmen Shot By Indian Security at New Dehli Airport --BBC
::
Of The Major Parties at Auto Hearing, Only UAW Has Done Something --Dodd
::
BOC to Buy Back Up to C$500mln of Bonds on Wednesday
::
Congresss Will Try Passing Auto Bailout Bill Before Leaving
::
Senate Banking Committee Hearing On Auto Bailout Ends
::
30yr Yield Drops to Record Low for 4th Day -- 3.0532%
::
Stocks Off New Lows - S&Ps Down 4% at 833, Dow Down 3.5% at 8270
::
'Not Persuaded' on Auto Bailout --Shelby on Bloomberg TV
::
S&P Just Off Lows, Down 3.2% to 843
::
Chrysler "More" Than Happy to Provide Assurances Taxpayers Will Get Money Back
::
Citadel down 47% YTD - WSJ
::

Username: Password: Forgotten your Password? Create an Account

September 25th, 2008 - ICE Millions to Serve Buy and Sell Side FX Trading Needs

ICE Futures U.S. Announces Foreign Exchange Futures

Ray McKenzie, Vice President and Head of Sales, ICE Futures U.S: "ICE Futures U.S. will bring a valuable new FX tool to market participants globally."

IntercontinentalExchange (NYSE: ICE) has announced that ICE Futures U.S will launch million-currency-unit versions of 12 existing foreign exchange (FX) futures contracts in November 2008. The new futures contracts, known as ICE Millions, uniquely combine the benefits of futures and OTC products, bringing transactional efficiencies and risk management opportunities to the growing FX marketplace. The contracts will be sized at ten times the notional value of the existing suite of ICE FX futures and options contracts. ICE Futures U.S. also lists the U.S. Dollar Index(R) futures.

"Institutional traders, hedge funds, commodity trading advisors and retail traders have been seeking greater efficiencies in terms of cost, transparency and straight-through processing in the FX markets," said Ray McKenzie, Vice President and Head of Sales for ICE Futures U.S. "By offering futures contracts that mirror cash market trading conventions, but with enhanced efficiency and the vital benefits of centralized clearing, ICE Futures U.S. will bring a valuable new FX tool to market participants globally."

The following contracts comprise the suite of 12 FX pairs:

Million Euro - Million Euro -

U.S. dollar (IEO) British pound (IGB)

Million British pound - Million Euro -

U.S. dollar (IMP) Canadian dollar (IEP)

Million U.S. dollar - Million Euro -

Canadian dollar (ISV) Japanese yen (IEJ)

Million U.S. dollar - Million Euro -

Japanese yen (ISN) Swedish krona (IRK)

Million U.S. dollar - Million Euro -

Swiss franc (IMF) Swiss franc (IRZ)

Million U.S. dollar - Million Aust. dollar -

Swedish krona (IKX) U.S. dollar (IAU)

The contracts will trade electronically on the ICE trading platform, which features the fastest trade execution times in the futures industry today. Contract prices will be quoted using over-the-counter market convention; for example, the Million Euro-U.S. dollar contract will be quoted in U.S. dollars per Euro to five decimal places. The standard rate for ICE Millions futures contracts is $1.35 per side, or per million currency unit, inclusive of exchange and clearing fees.

click here to return to the top of the page