March 27, 2015

CFTC Grants Order to ICE Clear Europe Permitting Portfolio Margining of Futures and Foreign Futures Contracts by Non-Clearing Member FCMs

Washington, DC — The U.S. Commodity Futures Trading Commission (Commission) issued an order granting a request from ICE Clear Europe Limited (ICE Clear Europe), a Commission-registered derivatives clearing organization, for an order pursuant to Section 4d(a) and (b) of the Commodity Exchange Act.

The order amends an earlier order dated May 30, 2014, which permitted ICE Clear Europe and its clearing members that are registered futures commission merchants (FCMs) to: (1) commingle in an account subject to Section 4d(a) (a futures customer account) positions in futures and options, and foreign futures and foreign options, and related customer money, securities, and property; and (2) portfolio margin these futures and options, and foreign futures and foreign options, in the futures customer account.

The May 30, 2014 order provided relief only to ICE Clear Europe and its clearing members. The amended order also applies to FCMs that carry contracts cleared at ICE Clear Europe through a clearing member FCM but are not themselves clearing members.

Last Updated: March 27, 2015