Intercontinental Exchange (ICE) has launched its new Long European Union Bond Index futures contract, with the securities trading platform taking its initial trades of the cash-settled futures contract on Tuesday.

The new contract tracks the performance of long-term sovereign debt issued by the EU and maturing within eight to 13 years, ICE said, adding the historical volatility of the index is similar to other European bond futures.

ICE shares recently were fractionally higher in US morning trade.

Price: 156.78, Change: +0.71, Percent Change: +0.45