ICE to Launch NYSHEX Container Freight Futures

Key Terms

futures financial

A futures contract is a standardized agreement to buy or sell an asset (like a commodity, currency, or stock index) at a fixed price on a specific future date. Think of it like locking in the price of a house today for a move-in years from now: it lets buyers and sellers protect themselves against price swings or bet on which way prices will move. For investors, futures matter because they provide a cheap way to manage risk, amplify returns through leverage, and signal market expectations that can move cash prices.

derivatives financial

Derivatives are financial contracts whose value depends on the price or performance of another asset, such as a stock, bond, commodity, currency or interest rate. Investors use them to hedge against risk, to speculate on future price moves, or to gain exposure without owning the asset — like buying insurance or placing a leveraged bet — so they can both protect portfolios and magnify gains or losses, affecting risk and market liquidity.

cash-settled financial

Cash-settled describes a financial contract that is resolved by paying the monetary difference between agreed and actual prices, instead of delivering the underlying asset. For investors, it matters because it simplifies trades—like settling a bet with cash rather than handing over the item—and affects liquidity, tax treatment, and counterparty exposure, since you receive or pay only the value change rather than owning or transferring the actual security or commodity.

benchmark financial

A benchmark is a standard or yardstick—usually a market index, interest rate, or agreed performance target—used to measure how well an investment, portfolio, or fund is doing. It matters to investors because comparing returns against that benchmark shows whether a manager is adding value or simply matching market movements; like comparing a car’s mileage to an average, beating the benchmark suggests better performance while lagging suggests underperformance or higher costs.

open interest financial

Open interest is the total number of outstanding futures or options contracts that have been created but not yet closed or settled. Think of it like the number of active tickets in a queue — higher open interest means more traders are involved and the market is more liquid, which helps price moves be more reliable and shows the strength of investor interest or conviction in a trend.

options markets financial

A marketplace where contracts called options are bought and sold that give the holder the right, but not the obligation, to buy or sell a specific stock or asset at a set price within a set time—think of them as reserving a future purchase or sale like a refundable coupon. They matter to investors because they allow hedging against price moves, amplifying returns or losses with smaller outlays, and they influence stock volatility and market sentiment by signaling where traders expect prices to go.

spot market financial

The spot market is where assets—like stocks, commodities, or currencies—are exchanged for immediate delivery and payment at the current market price. It matters to investors because spot prices reflect real-time supply and demand, guide short-term trading decisions, and serve as the baseline for contracts and valuations; think of it as buying an item at the store right now instead of ordering it for later.

Contracts Offer New Tools to Hedge Container Freight Price Risk

NEW YORK & LONDON--(BUSINESS WIRE)-- Intercontinental Exchange (NYSE: ICE), one of the world's leading providers of financial market technology and data powering global capital markets, today announced that it plans to launch four container freight futures covering freight shipping routes between the U.S., Asia and Europe, indexed to the New York Shipping Exchange’s (NYSHEX) Freight Indices (NYFI) price assessments.

The contracts are expected to launch on April 7, 2026, subject to regulatory approval, and are designed to help the market manage container freight risk.

ICE Data Services is the calculation agent to the NYSHEX Indices since 2024, which serve as benchmarks for containerized freight pricing based on actual shipped transactions, with the index applying consistent weighting across verified shipping trade routes.

ICE’s U.S.-denominated cash-settled container freight futures include:

• ICE Container FFA - Asia to US West Coast 40GP/HC (NYFI) Future
• ICE Container FFA - Asia to US East Coast 40GP/HC (NYFI) Future
• ICE Container FFA - Asia to North Europe 40GP/HC (NYFI) Future
• ICE Container FFA - North Europe to US East Coast 40GP/HC (NYFI) Future

“ICE’s new global container freight derivatives are the first of their kind for ICE, providing new tools for risk management in the shipping industry,” said Jeff Barbuto, SVP of Global Oil Markets at ICE. “The contracts will be supported by ICE’s network of extremely liquid energy markets - the largest in the world - providing precise risk management tools to manage volatility across global supply chains.”

“The container shipping industry is massive and critical for global trade, yet it is incredibly volatile. With the launch of ICE’s new freight futures, market participants can far more easily hedge against unexpected swings in the market price,” said Gordon Downes, CEO and co-founder of NYSHEX. “NYFI is the most accurate container freight index because it is based on shipped transactions, this ensures ICE’s futures settle on prices that are actually being paid to ship on the spot market.”

The NYSHEX container freight contracts will join ICE’s global oil markets which include ICE Low Sulphur Gasoil - the global benchmark for middle distillates, marine fuel and high sulphur fuel. ICE’s total oil market is at record open interest of 18.7 million contracts as of February 23, 2026. On February 27, 2026, ICE Wet Freight futures and options markets hit record open interest of 201,000 contracts.

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.

ICE Benchmark Administration, a subsidiary of ICE, was founded to provide benchmark and other administrative services that bring certainty and predictability to the operation of global financial and commodity markets. IBA reserves all rights in its benchmark methodologies and settings. ICE Swap Rate and ICE Benchmark Administration are registered trademarks of IBA and/or its affiliates.

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, 2025, as filed with the SEC on February 5, 2026.

Category: EXCHANGES

ICE-CORP

Source: Intercontinental Exchange

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Source: Intercontinental Exchange