CFTC Seeks Comments on ICE Clear Europe Petition

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[authors: Kevin M. Foley, Blake J. Brockway]

On September 11, the CFTC requested public comment on a petition submitted by ICE Clear Europe Limited (ICE Clear Europe). ICE Clear Europe, which is registered with the CFTC as a derivatives clearing organization and with the UK Financial Services Authority as a recognized clearing house, will clear energy futures contracts that are traded on ICE Futures US and ICE Futures Europe. The petition requests a CFTC order that would allow ICE Clear Europe and futures commission merchants that are clearing members of ICE Clear Europe to commingle in a US customer segregated funds account futures and options traded on ICE Futures US and ICE Futures Europe and related customer funds, as well as to permit portfolio margining between such positions.

Comments must be filed on or before September 25.

More information is available here.

 

Topics:  CFTC, Derivatives Clearing Organizations, Financial Services Authority, Segregated Funds

Published In: Administrative Agency Updates, Energy & Utilities Updates, Finance & Banking Updates, International Trade Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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