ICE Launches ICE Digital Trade Documents to Digitize Paper-Based Post-Trade and Shipping Processes for the Energy Industry

Rhea-AI Summary

Intercontinental Exchange (NYSE: ICE) has launched ICE Digital Trade Documents (ICE DTD) for the energy sector, enhancing digitization of post-trade and shipping processes for commodities like oil, gas, and petrochemicals. Following successful trials in Asia Pacific, ICE DTD allows terminal and refinery operators to streamline communication and documentation, potentially saving significant time and costs per shipment. This solution automates workflows, offering self-administration and open APIs for customization, thereby increasing transparency and collaboration among stakeholders. The launch aligns with ICE’s mission to digitize traditional processes in the energy industry.

Positive

• Launch of ICE DTD promises significant time and cost savings for operators.
• Facilitates increased transparency and collaboration in commodity delivery.
• Self-administration and open APIs offer high configurability for users.

Negative

• None.

LONDON--(BUSINESS WIRE)-- Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology, and market infrastructure, today announced the launch of ICE Digital Trade Documents (ICE DTD) for the energy industry, a highly configurable solution digitizing post-trade and shipping processes for physically delivered commodities including oil, gas and petrochemicals. The launch follows a series of successful trials conducted for shipments of refined products within Asia Pacific.

ICE DTD offers terminal and refinery operators in the energy industry a way to digitize the communication and documentation transmitted between stakeholders at the point of delivery or receipt of the cargo. It can be easily configured and adopted, enabling operators to manage and visualize all communication between vessels and terminals, as well as assist with managing loading and discharge instructions, ship to shore safety documentation, and generating shipping and trade documentation.

“ICE was founded with a mission to transform analog industries through digitizing processes,” said David Farrell, Chief Operating Officer of ICE Futures U.S. “For our terminal and refinery customers, every minute spent in the process of ships arriving and leaving terminals is valuable. ICE DTD digitizes complex, fragmented, and paper-based processes, offering the energy industry the potential to save hours per shipment, and in doing so save time and cost.”

By digitizing these processes, ICE DTD brings increased transparency and collaboration across the many different participants involved in the physical delivery of commodities. It helps shippers and operators avoid what can become costly errors and delays, as well as achieve substantial time savings per shipment, and help maximize the amount of goods that can be delivered at the terminal.

Terminal and refinery operators can quickly automate workflows to their specific requirements, with ICE offering self-administration and configuration, combined with open APIs to enable operators to define, implement, and adjust their workflows directly themselves.

For more information, please visit: https://www.theice.com/solutions/digital-trade or contact Sales-ICEDigitalTrade@ice.com.

About Intercontinental Exchange

Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate 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, 2021, as filed with the SEC on February 3, 2022.

Category: EXCHANGES

ICE- CORP

Source: Intercontinental Exchange

View source version on businesswire.com: https://www.businesswire.com/news/home/20230118006057/en/

ICE Media:

Rebecca Mitchell

Rebecca.Mitchell@ice.com

+44 7951 057 351

ICE Investor:

Katia Gonzalez

katia.gonzalez@ice.com

(678) 981-3882

Source: Intercontinental Exchange

FAQ

What is ICE Digital Trade Documents (ICE DTD)?

ICE DTD is a digital solution launched by Intercontinental Exchange to streamline post-trade and shipping processes in the energy industry, focusing on commodities such as oil, gas, and petrochemicals.

How does ICE DTD benefit terminal and refinery operators?

ICE DTD helps operators save time and costs by digitizing communication and documentation processes, increasing efficiency and reducing errors.

Where were the trials for ICE DTD conducted?

The trials for ICE DTD were successfully conducted within the Asia Pacific region.

What industry does ICE DTD serve?

ICE DTD is designed for the energy industry, specifically for operators of terminals and refineries involved in the physical delivery of commodities.

What is the stock symbol for Intercontinental Exchange?

The stock symbol for Intercontinental Exchange is ICE.