Ice takes on DME on crude oil


Futures and over-the-counter energy platform IntercontinentalExchange (Ice) plans to go head-to-head with the Dubai Mercantile Exchange (DME) by launching sour crude oil futures based on Middle East production. The Ice Middle East Sour Crude contract is due to start trading electronically on Ice Futures, Ice's energy futures subsidiary, on May 21.

The Ice contract is cash-settled against commodity data provider Platts' Dubai physical cash price assessment and will be in direct competition

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