Latest news with #Intercontinental Exchange
CNA
5 days ago
- Business
- CNA
China slaps temporary duties on Canadian canola
BEIJING: China on Tuesday (Aug 12) announced preliminary anti-dumping duties on Canadian canola imports, a new escalation in the year-long trade dispute that began with Ottawa's imposition of tariffs on Chinese electric vehicle imports last August. The provisional rate will be set at 75.8 per cent, effective from Thursday, the Ministry of Commerce said in a statement. Canola Council of Canada President Chris Davison said that the rate makes the Chinese market effectively closed for Canadian canola, to which Canada exported almost C$5 billion (US$3.64 billion) of the oilseed crop in 2024. Intercontinental Exchange (ICE) November canola futures fell as much as 6.5 per cent to a four-month low after the announcement. "This really came as a surprise and a shock," said trader Tony Tryhuk of RBC Dominion Securities. China, the world's largest importer of canola, also known as rapeseed, sources nearly all its supplies of the product from Canada. The steep duties would likely all but end imports if they are maintained. "This is huge. Who will pay a 75 per cent deposit to bring Canadian canola to China? It is like telling Canada that we don't need your canola, thank you very much," said one Singapore-based oilseed trader. China imposed tariffs on canola oil and meal in March. Canada is now in a trade conflict with the world's two largest economies, as its exports also face tariffs imposed by the United States. Canada's number one canola market is the US, followed by China. China's Ministry of Commerce said an anti-dumping probe launched in September 2024 had found that Canada's agricultural sector - particularly the canola industry - had benefited from substantial government subsidies and preferential policies. The Canadian government and canola industry have previously rejected allegations of dumping. The industry believes China's complaint is based on other ongoing trade and political disputes, Davison said. A final ruling could result in a different rate, or overturn Tuesday's decision. The decision marks a shift from the conciliatory tone struck in June when China Premier Li Qiang said there were no deep-seated conflicts of interest between the countries during a phone call with Canadian Prime Minister Mark Carney. "This move ... will put additional pressure on Canada's government to sort through trade frictions with China," said Trivium China agriculture analyst Even Rogers Pay. Canada's trade, agriculture and prime minister's office did not immediately respond to request for comment. Canada has imposed tariffs on Chinese electric vehicles, steel and aluminium. Separately, China also launched an anti-dumping investigation into Canadian pea starch and imposed provisional duties on imports of halogenated butyl rubber, according to ministry statements. NO EASY REPLACEMENT Replacing millions of tons of Canadian canola is likely to be difficult at short notice, say analysts. China uses imported canola to make animal feed for its aquaculture sector, as well as for cooking oil. The move provides an opportunity for Australia, which looks set to regain access to the Chinese market with test cargoes this year after a years-long freeze in the trade, Pay said. Australia, the second-largest canola exporter, has been shut out of the Chinese market since 2020 due mainly to Chinese rules to stop the spread of fungal plant disease. However, even if Australian imports increase, "fully replacing Canadian canola will be very difficult unless import demand drops sharply", said Donatas Jankauskas, an analyst with commodity data firm CM Navigator. Davison said his industry believes China will need Canada's canola to meet the sort of demand it has experienced in recent years. "I think the expectation would be that they could not meet those needs with a quality of a product and the volume that we provide," Davison said. Canadian farmers are about to begin harvesting canola and will not be happy to see prices plunge, said Canadian Canola Growers Association President Rick White. As long as the prohibitive duty is there farmers face suppressed prices. "It's going to certainly have a damping effect on price for farmers and they're going to be stuck with that," White said. Commodity funds have a substantial long position in ICE canola futures, traders said, which should add fuel to the selloff fire. "This will help accelerate their exit of that long and could really extend the losses," said Tryhuk. Another trader said there was already downward pressure coming into canola prices as Canada's crop is widely believed to be bigger than many previously forecast due to good weather. Ventum Financial broker David Derwin said traders were unsure about how to take the Chinese move yet, since it is not a final rule.
Yahoo
6 days ago
- Business
- Yahoo
ICE Launches Climate Risk Data and Analytics for Private Companies
Expands climate data offering to over five million private companies globally Incorporates Dun & Bradstreet's extensive private company data ATLANTA & NEW YORK, August 12, 2025--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of technology and data, today announced it has expanded its climate data and analytics offering to include physical and transition risk data for over five million private companies globally. With this expanded data, ICE now offers a consistent approach to climate risk analysis across all major asset classes, including public and private companies, sovereigns, municipal bonds and mortgage-backed securities. "When looking at portfolio-level climate risk management, data blind spots, specifically in the private company universe, have created challenges for professional investors and asset managers," said Larry Lawrence, Head of ICE Climate. "By expanding our climate data service to private companies, we're able to offer an all-in-one solution with complete portfolio coverage across all major asset classes." The new service integrates Dun & Bradstreet's comprehensive global data of private companies with ICE's proprietary geospatial intelligence platform and climate risk models. This combination provides robust analytics for both physical and transition risks, including detailed metrics for flood, wildfire, hurricane, extreme heat, and extreme cold exposure. In addition to physical risk data, the service offers Scope 1, 2, and 3 greenhouse gas emissions metrics, including emissions intensity normalized by revenue. This can enable investors to assess climate impact and transition risk across entire portfolios, including traditionally opaque private markets. "The addition of Dun & Bradstreet's private company data into ICE's climate risk platform represents a pivotal advancement in helping organizations uncover and manage climate-related vulnerabilities across their global operations," said Brian Filanowski, General Manager of Finance & Risk Solutions at Dun & Bradstreet. "Our data – anchored by the D-U-N-S® Number, a trusted identifier across the business and investment communities – offers visibility into extended supply chains and corporate footprints, enabling more robust climate risk assessments and empowering businesses to make informed, sustainable decisions." The new private company data is integrated into ICE's climate data solutions, offering institutional investors real-time hazard monitoring and multi-asset class insights. Combined with ICE's existing climate datasets, it delivers a comprehensive view of climate risk across corporates, sovereigns, and asset-backed securities. To learn more about ICE's Climate data offering, visit: About Intercontinental Exchange Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks that connect people to opportunity. We provide financial technology and data services across major asset classes helping our customers access mission-critical workflow tools that increase transparency and efficiency. ICE's futures, equity, and options exchanges – including the New York Stock Exchange – and clearing houses help people invest, raise capital and manage risk. We offer some of the world's largest markets to trade and clear energy and environmental products. Our fixed income, data services and execution capabilities provide information, analytics and platforms that help our customers streamline processes and capitalize on opportunities. At ICE Mortgage Technology, we are transforming U.S. housing finance, from initial consumer engagement through loan production, closing, registration and the long-term servicing relationship. Together, ICE transforms, streamlines and automates industries to connect our customers to opportunity. Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading "Key Information Documents (KIDS)." 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, 2024, as filed with the SEC on February 6, 2025. Category: Fixed Income and Data Services SOURCE: Intercontinental Exchange View source version on Contacts ICE Media Contact Damon Leavell+1 212 323 media@ ICE Investor Relations Contact Katia Gonzalez+1 678 981 investors@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
06-08-2025
- Business
- Yahoo
Mizuho Americas Joins ICE Clear Credit as Clearing Member
ATLANTA & NEW YORK, August 06, 2025--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of technology and data, today announced that Mizuho Americas through its security-based swap dealer Mizuho Capital Markets LLC, part of Mizuho Financial Group (NYSE: MFG), has become a clearing member at ICE Clear Credit, the leading global clearinghouse for credit default swaps. "Mizuho Americas is excited to join ICE Clear Credit to enhance our product offering and approach to capital and risk management delivering efficiencies across our CDS portfolios," said Natalya Rasmussen, Chief Operating Officer, Fixed Income Division, Mizuho Americas. "The opportunity to centrally clear products is an important step forward for our business and these operational improvements will amplify our strategic growth within the global credit derivatives market." ICE Clear Credit provides a comprehensive product offering, robust mark-to-market services and state-of-the-art risk management approach. As a clearing member, Mizuho Americas will have access to industry-leading solutions for clearing Single Name and Index CDS instruments, as well as CDS Index Option instruments referencing the major North American and European corporate indices. "We're pleased to welcome Mizuho Americas to our growing network of global clearing members," said Stan Ivanov, President of ICE Clear Credit. "As the global CDS market continues to evolve, Mizuho's addition strengthens our position as a service provider of deep liquidity, transparency, and resilience in today's dynamic credit landscape, where effective risk management is paramount." ICE Clear Credit, launched by ICE in 2009 to bring centralized clearing to the CDS market, enables clearing of more than 670 Single Name, Index, and Index Option CDS instruments referencing corporate and sovereign debt. ICE Clear Credit clearing has reduced counterparty risk exposure for parties to trades with a combined notional amount of over $385 trillion, with current open interest at ICE Clear Credit over $2 trillion. For more information about ICE Clear Credit, please visit: About Intercontinental Exchange Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds, and operates digital networks that connect people to opportunity. We provide financial technology and data services across major asset classes helping our customers access mission-critical workflow tools that increase transparency and efficiency. ICE's futures, equity, and options exchanges -- including the New York Stock Exchange -- and clearing houses help people invest, raise capital and manage risk. We offer some of the world's largest markets to trade and clear energy and environmental products. Our fixed income, data services and execution capabilities provide information, analytics and platforms that help our customers streamline processes and capitalize on opportunities. At ICE Mortgage Technology, we are transforming U.S. housing finance, from initial consumer engagement through loan production, closing, registration and the long-term servicing relationship. Together, ICE transforms, streamlines, and automates industries to connect our customers to opportunity. Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading "Key Information Documents (KIDS)." 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, 2024, as filed with the SEC on February 6, 2025. About Mizuho Americas Mizuho Financial Group, Inc. is one of the largest financial institutions in the world as measured by total assets of ~$2 trillion, according to S&P Global 2024. Mizuho's 65,000 employees worldwide offer comprehensive financial services to clients in 36 countries and 850 offices throughout the Americas, EMEA, and Asia. Mizuho Americas is a leading Corporate and Investment Bank (CIB) that provides a full spectrum of client-driven solutions across strategic advisory, capital markets, corporate banking, and fixed income and equities sales & trading to corporate, government, and institutional clients in the US, Canada, and Latin America. Through its acquisition of Greenhill, Mizuho enhanced its M&A, restructuring, and private capital advisory capabilities across the Americas, Europe, and Asia. Mizuho Americas employs approximately 4,000 professionals. For more information visit Category: Fixed Income and Data ServicesSOURCE: Intercontinental Exchange View source version on Contacts ICE Media Contact:Damon (212) 323-8587 media@ ICE Investor Contact:Katia (678) 981-3882 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
