Ice futures u.s. updates mini gold contract; allows market participants to take delivery in single kilo-sized bar

New york--(business wire)--intercontinental exchange (nyse: ice), the leading global network of exchanges and clearing houses, announced updated terms for the mini gold futures and options contracts that are listed and traded on ice futures u.s. the change is effective today and reflects customer feedback on size, quality and delivery options for the mini gold products. these contracts were previously listed on liffe u.s. and were transitioned to ice futures u.s. in june. the new contract specifications apply beginning with the february 2015 contract. the terms provide market participants with the ability to deliver a single kilo bar (32.15 troy oz) in 0.9999 fineness against a futures position and eliminate the use of warehouse depository receipts. “we have been working closely with market participants to ensure that our metals complex meets their trading and risk management needs while evolving with the current market conventions,” said ice futures u.s. president ben jackson. “these changes make the ice mini gold contract the most effective physically delivered futures contract in terms of accurately representing the underlying market, while enabling efficient hedging or exposure to gold prices.” additional details faq about intercontinental exchange intercontinental exchange (nyse: ice) is the leading network of regulated exchanges and clearing houses for financial and commodity markets. ice delivers transparent, reliable and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the new york stock exchange, ice futures and liffe. trademarks of ice and/or its affiliates include intercontinental exchange, ice, ice block design, nyse, new york stock exchange and liffe. 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, 2013, as filed with the sec on february 14, 2014. source: intercontinental exchange ice-ag
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