Ice Brent changes prove a hard pill to swallow
Ice says a plan to shift the expiry dates of futures and options on Brent crude oil is an important fix that will tighten the link between the physical and futures markets. However, carrying out the necessary changes could be painful for market participants. Alexander Osipovich reports
Commodity exchanges have one central goal in life: to list contracts that are heavily traded, with prices perceived as benchmarks for their respective underlyings. By that standard, Atlanta-based Ice should be quite happy about its Brent crude oil futures, which enjoy open interest in excess of 1.5 million contracts and are often seen as a better benchmark for global oil prices than their chief
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