Ice clearing members. Clearing Member Reports Banking Page 3 of 11 V 1.
- Ice clearing members Password. This includes carefully calibrated minimum capital levels, operational and technical capabilities, and demonstrated risk management competence. In 2024, ICE NGX launched exchange trading and clearing services for physically settled futures 1 Remote Clearing Members are also subject to other ICSG procedures applicable to all Clearing Members, such as Finance Procedures, Delivery Procedures, Clearing Procedures, Contract Terms Procedures, Complaint Resolution Procedures, Business Continuity Procedures, Default Auction Procedures. rules (the "Rules") and are subject to the Rules, including, without limitation, Rules 101 and 102. The 24 approved Exchange Members, of which 18 are approved Clearing Members, are ICE Clear Credit, a subsidiary of Intercontinental Exchange, offers clearing for CDS index options referencing major North American and European corporate indices. Participants. Introduction This Guidance (to be read together with the ICSG Clearing Rules, ICSG Membership Procedures1 and ICE Futures Singapore Rules2) sets out certain aspects of ICSG’s framework for admission and regulation of members (“Remote Clearing Members”) who: ICE Clear Europe announced in June 2022 that it would cease offering clearing services for CDS instruments and work with Clearing Members and their Clients to close-out their positions at ICE 2 For some U. Ltd. Default Resources – Clearing Members ICC ICE Clear Credit ICEU - CDS ICE Clear Europe : Credit Default Swaps ICEU - F&O ICE Clear Europe Futures & Options ICUS ICE Clear U. Clearing Firms; Clearing Firms Member Numbers; Clearing Firm CME CBOT NYMEX COMEX OTC IRS OTC FX; ABN AMRO Clearing USA LLC : ADM Investor Services, Inc. Clearing House Rules The rules of the Clearing House, together with its procedures, as interpreted in accordance with guidance and circulars issued by the Clearing House, in each case, as amended from time to time. ICE Clear Europe 09 December 2021 Circular C21/149 ICE Clear Europe: Operating Calendar 2022 Category General Attachments None Business Days F&O and CDS Clearing Members are advised that the following dates All participants must have an arrangement in place with an ICE Clear Europe Clearing Member and an Exchange Member or an Auction-only Access Provider. 3936380. CDS Clearing Members should note that as a result of the notices in this Circular, they are subject to certain obligations under the Part 1 – General Provisions EUROPE/1016390032. Webinars. 657 Morgan In 2008, ICE NGX and Intercontinental Exchange (ICE) launched an operational alliance whereby ICE NGX began using ICE’s front end trading technology and providing clearing services for ICE’s US physical gas products, culminating in ICE’s acquisition of NGX in 2017. Initial margin is a returnable deposit based on your open positions and any possible margin offsets. AML AND KYC Clearing Members should be aware that the Clearing House is entitled to delay or suspend the termination of membership of any CDS Clearing Member in certain circumstances, and to postpone the Withdrawal Date pursuant to Rule 105(a). Intercontinental Exchange, Inc. ESMA granted the recognition to CP Legal Name - CDS; Bank of America, N. By combining our world class technology with our leading data services and operating expertise, we add transparency and enable customer efficiency gains that advance both our 1 1. CDS Clearing Members should note that as a result of the notices in this Circular, they are subject to certain obligations under the 1. 01) (other than a non-public customer as defined We serve just about anyone who touches the global financial marketplace from equities and derivatives traders to listed companies and clearing members. Clearing Members are required to complete and submit the AMR no later than 28 November 2022. ICE Clear Netherlands is registered at the Dutch commercial register under ICE Clear Singapore provides clearing for futures and derivatives across energy, metals and FX asset classes, such as the ICE Futures Singapore Mini Brent Crude, Gasoil, WTI and Kilo Gold Contract. Further, a Clearing Member may clear and settle deals either on their own SIDOCS01/117013. ] 312316 Part 15 Credit Default Swaps 313317 Part 16 FCM/BD Clearing Member Provisions 338342 Part 17 Foreign Exchange 355359 Part 18 Transition Rules for LIFFE in 2013 361365 Part 19 Sponsored Principals 369373 Part 20 Transition Rules for ICE Endex in 2013 ID CCP Name Clearing Member LEI Clearing Member Name Clearing Member Country Code Clearing member in Category 1 for: Delegated Regulation 2 Clearing Member offering client clearing Last update 1 ICE Clear Europe Limited QV4Q8OGJ7OA6PA8SCM14 Banca IMI S. Barclays Bank PLC: Barclays Capital Inc. With effect from Monday 11 November 2019, the Concentration Charge requirement will be calculated and applied on a daily, rather than weekly, basis. p. LLC (FCM) J. ICE Futures U. These tiers are as follows: ICE Clear Europe: Clearing System Further to the communications on the Technology and Operations Group (TOG) calls, Clearing Members are notified that the ICE Clearing System will be upgraded in two phases. ICE Emissions Members Screen Futures Tiered Rebate Programme calls, Futures and Options Clearing Members (Clearing Members) are notified that the ICE Clearing System will be upgraded post end of day processing on Thursday 11 September 2014 and will be effective as of start of business on Friday 12 September 2014. Not registered yet? Click here to register. EUA is an Allowance within the meaning of Article 3 of Directive 2003/87/EC accepted by ICE Endex for trading ICE Clear Europe Ltd is a recognised clearing house under the Financial Services and Markets Act 2000 and is supervised by the Bank of England. /159: 686: INTL FCStone Financial Inc. The migration necessitates transition of ICE and its Members (along with associated users, systems and processes) from the TRS/CPS platform to the ICE Clearing System. Regulation. 320 Division of INTL FCStone Financial Inc. ICE Clear U. ICE Trade Vault CFTC. Advantage Futures LLC : Banco Bilbao Vizcaya Argentaria, S. 773: GH ICE Clear Credit (ICC) expects to provide a robust and capital efficient clearing solution, which will bring competition to the U. ’s default waterfall, margin held in the defaulting clearing member’s customer account, may be used for default management ICE Clear Credit (ICC) expects to provide a robust and capital efficient clearing solution, which will bring competition to the U. ICE Clear Europe 22 January 2024 Circular C24/006 ICE Futures US: Energy Division (“IFED”) - Changes to certain Fees Category General Attachments None The purpose of this Circular is to inform Clearing Members of changes to ICE Endex as the clearing house to ICE Endex. BNP Clearing members collect performance bond from their customers and CME Clearing collects performance bond from clearing members. A NYBOT Member is eligible to be an ICE Clear U. 1 and 3. 6219884 1 CDS Clearing: Appointment of CDS Clearing Members to the CDS Default Committee Pursuant to Part 1 – General Provisions EUROPE/1016390032. [2] ICE Clear Credit LLC operates as a central counterparty (CCP) and 1 Remote Clearing Members are also subject to other ICSG procedures applicable to all Clearing Members, such as Finance Procedures, Delivery Procedures, Clearing Procedures, Contract Terms Procedures, Complaint Resolution Procedures, Business Continuity Procedures, Default Auction Procedures. GF A NYBOT Member Firm is a corporate entity to which membership privileges have been conferred by a NYBOT Member who is an officer, partner, director or executive employee of the firm and who exercises authority over the affairs of the firm's activities at ICE Futures U. Corporate single names include both North American and European instruments. The Clearing Part 2 Clearing Membership. Clearing Member A person which has entered into a clearing membership Find a complete list of Clearing Firm Members from CME Group. AML AND KYC event of a Clearing Member/Participant (Member) default where the decision is made to auction part or all of the Defaulter [s portfolio. The migration will be conducted in several phases. 4 | CONFIDENTIAL Default Resources – Stress Testing Cover 2 Estimated Stress Loss Exceedance: # of Days and Amount 2023 Q2 2023 Q3 2023 390 + unique clearing members, thousands of clients across ICE Clearing Houses $ 401 Million in ICE Skin in the Game $ 250 Million in ICE Default Insurance protection layer that resides ahead of guaranty fund contributions of non-defaulting clearing members Collateral held remained over-collateralized at all times Members may process them as a position transfer using the 'Transfer' screen in FEC, in accordance with the conditions specified in this policy document. ICE Trade Vault UK ICE Clear Credit currently has about 30 clearing members. INTRODUCTION 1. ICC Index Options Restructuring Overview. OTC ENERGY: SETTLEMENTS ICE settlement committee monitors all ICE OTC trading activity during a set settlement window In the absence of a traded price, midpoints of the best bids and offers that are posted during the settlement window are the primary considerations for settlement Settlement prices primarily Default Resources –Clearing Members ICC ICE Clear Credit ICEU - CDS ICE Clear Europe : Credit Default Swaps ICEU - F&O ICE Clear Europe Futures & Options ICUS ICE Clear U. P. 390 + unique clearing members, thousands of clients across ICE Clearing Houses $ 410 Million in ICE Skin in the Game $ 250 Million in ICE Default Insurance protection layer that resides ahead of guaranty fund contributions of non-defaulting clearing members Collateral held remained over-collateralized at all times WAB-ICE Brent Crude Weekly American Option 24-Mar-23 IFEU 24-Mar-23 20:30 19:30 WAW-ICE WTI Crude Weekly American Option 24-Mar-23 IFEU 24-Mar-23 21:30 20:30 Temporary Changes to ICEU Clearing Systems Deadlines F&O Clearing Members should note the following temporary changes to ICEU Clearing System deadlines. Introduction This document provides information about the banking reports and data files which will be made available to clearing members of ICE Clear Europe. systems to support: • the allocation, acceptance/challenge and clearing of trade data. The new Treasury clearing service will leverage ICC, the leading global clearinghouse for credit default swaps (CDS However, traders may not have to obtain a membership to access ICE futures markets. Third parties that do not wish to become members, or that do not meet the membership criteria of ICE Trust or ICE Clear Europe, may establish relationships with clearing members beginning in October 2009. Under such framework, ICE Clear Europe has developed a comprehensive tiered waterfall approach to risk management. If porting to a new clearing member cannot be arranged, the customer positions and margin at the defaulting Clearing Member Reports Banking Page 3 of 11 V 1. 6 | CONFIDENTIAL Default Resources –Stress Testing Cover 2 Estimated Stress Loss clearing membership criteria established by the Clearing House, whether as a breach of Rule 202(a)(iv) (including as applied to Sponsored Principals pursuant to Rule 1901(k)) or otherwise; or (ii) in the case of a Clearing Member, such Clearing Member's obligation to F&O Clearing Members are notified that ICE Clear Europe (“the Clearing House”) will change the frequency of calculation and collection of the additional margin requirement known as Concentration Charge. The minimum contribution by each Clearing Member to the Guaranty Fund currently is $2,000,000. The term "Affiliated LME Clear members ; A ABN AMRO Clearing Bank NV ADM Investor Services International Limited Amalgamated Metal Trading Limited: B BNP Paribas BOCI Global Commodities (UK) Limited C CCBI Global Markets (UK) Limited Citibank, N. Clearing Analytics. [1] ICE offers trade execution and processing for the credit derivatives markets through Creditex and clearing through ICE Trust™. ICE Clear Europe began operations in November 2008, clearing for the Contracts traded on IFAD will be cleared at ICE Clear Europe, ICE’s leading energy clearing house. ICE Clear Netherlands has a license in accordance with article 14 of the European Market Infrastructure Regulation (EMIR) No. S. While members may be required to provide additional margin to cover concentration risk, illiquid positions or wrong-way risk, we continually evaluate your Clearing Members can instruct ICE Clear Netherlands to exercise out-of-the-money or at-the-money series through the electronic means made available to the Clearing Member. • the submission . 2 5 The term "Affected FM Party" means a Person prevented, hindered or delayed by a Force Majeure Event. Clearing Member Member and an Affiliate of the same or a different CDS Clearing Member; or (iii) a CDS transaction between an Affiliate of a CDS Clearing Member and an Affiliate of the same or a different CDS Clearing Member; or (iv) any of cases (i), (ii) or (iii) but where a Sponsored Principal is party to the transaction instead of a CDS Clearing Member 1 Part 1 General Provisions Rule 101 Definitions The term "Account" means a Customer Account or a Proprietary Account, as the case may be, of a Clearing Member. G. CDS Client Clearing . The following are potential methods Clearing Members to be ported to solvent clearing members, bank-affiliated clearing members may not be in a position to accept, or willing to accept ported customers’ positions if the capital requirements to take the client ported positions are onerous. The following is a list of documents that must be furnished by applicants for Clearing Membership. The term "Accounting Standards" means applicable accounting standards and principles. 69 July 29, 2024 . 1 1. BMO Capital Markets Corp. ICE Clear Europe is a clearing house for futures and options contracts. Members should also consult the ICE Clear Europe clearing systems documentation for details on how to ICE Clear Credit LLC, a Delaware limited liability company, is a Derivatives Clearing Organisation (DCO) previously known as ICE Trust US LLC which was launched in March 2009. calls, Futures and Options Clearing Members (Clearing Members) are notified that the ICE Clearing System will be upgraded post end of day processing on Thursday 11 September 2014 and will be effective as of start of business on Friday 12 September 2014. A clearing member is allocated a limit above which the clearing member is required to cover the stress loss that exceeds the IM. The term "CAD" means Canadian dollars, or any other lawful currency that is a successor to it. These Clearing Procedures, and all non-contractual obligations arising out of or in connection with them, are governed In an expansion of ICE’s remit in Asia, ICE Clear Singapore (ICSG) has been granted automated trading services authorization by the Securities and Futures Commission of Hong Kong. 1 These Membership Procedures are 'Procedures' as defined in the ICE Clear Singapore Pte. Clearing member positions are marked-to-market at ICE Clear Europe’s risk management framework is structured to ensure robust clearing arrangements, minimizing risks to the Clearing House and its Clearing Members. Oil Products & Other. (FCM) Advantage Futures LLC (FCM) BNP Paribas Securities Corp. , Inc. 555: BNP Paribas Securities Corp. 2) of an FCM/BD Clearing Member with respect to any Contract in one or more account classes (as defined in CFTC Rule 190. See. If Clearing Members prefer their in-the-money series not to be exercised on the expiration date, they can send an abandonment instruction to ICE Clear Netherlands through the Membership. 6219884 15 AUGUST 2016 CIRCULAR C16/099 ICE CLEAR EUROPE: PROPOSED CHANGES TO THE CLEARING RULES AND DELIVERY Clearing houses serve as the “central counterparty” (CCP) to the financial transactions they clear, meaning that the clearing house is the buyer to a clearing member seller and seller to a clearing member buyer. Attachments None. Their main services include serving clients' best interests by helping to mitigate systemic risk in the marketplace through product offering, end-of-day pricing ICE Clear Europesm Clearing Rules LNDOCS01/873965. Morgan is now offering clearing services for client-executed Credit Default Swap (CDS) Index Options via ICE Clear Credit. The clearing house also operates a margin to capital limit. Details of these arrangements ICE Clear Europe Ltd, a Recognised Clearing House under the Financial Services & Markets Act 2000 Registered in England & Wales with Registered Office at Milton Gate, 60 Chiswell Street, London, EC1Y 4SA Company Registration No. Clearing Members should also ensure they have all necessary permissions and authorisations in place to clear the business as required by the rules of ICEU. Once admitted, clearing members are actively monitored for on All Clearing Members must meet ICE Clear U. ’s operational criteria and requirements with respect to the contracts sought to be cleared. The practical arrangements vary according to whether you are an Exchange Member, an existing non-member participant in ICE Emissions markets or a new participant. The term "Affected FM Party" means a Person prevented, hindered or delayed by a Force Majeure Event. Return the completed EUA to ICE Clear Europe Ltd is a recognised clearing house under the Financial Services and Markets Act 2000 and is supervised by the Bank of England. Changes in respect of the end user interface (UI/GUI), intra-day trade workflow and intraday reports will take ICE Clear Europe’s risk management framework is structured to ensure robust clearing arrangements, minimizing risks to the Clearing House and its Clearing Members. The term Clearing Analytics. ICE Clear Europe Rule 918(d). xml where, xxx is the Trading Member Mnemonic and yyyymmdd is the Business Date. June 3 . (FCM) Clear Street LLC (FCM) Goldman Sachs & Co. Rules 1 Part 1 General Provisions Rule 101. Asset Haircuts. 6219884 1 Energy Clearing: ICE Futures Europe EUA, CER and ERU Futures markets: Delivery We refer Breakdown of Exchange vs Clearing Fees and Rebates for Emissions Member Programmes 1. As part of European Market Infrastructure Regulation (EMIR), ICE Clear Europe provides client asset segregation and portability solutions for clients, so that should a clearing member default, a client’s positions and assets can be The ICE Risk Model is used at most of ICE's clearing houses to calculate futures and options margin on at least a daily basis. Login . 4 Remote Clearing Members: A Clearing Member (i) to whom paragraphs 3. In order to secure the clearing operation against the failure of one or more Contracting Parties, several contingencies make up ICE NGX’s clearing structure. As a clearing member, RBC will have access to industry Cleared Swap Clearing Members List ICE FuturEs u. Changes in respect of the end user interface (UI/GUI), intra-day trade workflow and intraday reports will take IRM 2 will be rolled out across product groups and ICE Clearing Houses in discrete implementation phases. 3 12 April 2011 1. The term "Affected FM Party" means a Person prevented, hindered or delayed by a Force 1 Part 1 General Provisions Rule 101 Definitions The term "Account" means a Customer Account or a Proprietary Account, as the case may be,of a Clearing Member. 44 Part 7 Miscellaneous. The term "Affected FM Party" means a Person prevented, hindered or delayed by a ForceMajeure Event. 1 These Finance Procedures are 'Procedures' as defined in the ICE Clear Europe rules (the "Rules") and are subject to the Rules, including, without limitation, Rule 102. De Nederlandsche Bank and when requested by the Clearing Member, to the Clearing Member. 12 3 Part 1 General Provisions Rule 101 Definitions The term "Account" means a Customer Account or a Proprietary Account, as the case may be, of a Clearing Member. Default Resources – Clearing Members ICC ICE Clear Credit ICEU - F&O ICE Clear Europe Futures & Options ICUS ICE Clear U. Member Representatives should be aware that in this situation, the Clearing Member will see the identity of the underlying client in ACE. In its first week of operation, ICE Clear Europe processed €5. 5 | CONFIDENTIAL Default Resources – Stress Testing Cover 2 Estimated Stress Loss LME Clear members ; A ABN AMRO Clearing Bank NV ADM Investor Services International Limited Amalgamated Metal Trading Limited: B BNP Paribas BOCI Global Commodities (UK) Limited C CCBI Global Markets (UK) Limited Citibank, N. Notwithstanding the appointment of a Transferor or Transferee, the relevant Clearing Member remains at all times fully responsible for meeting all of its obligations and liabilities to the Clearing House. Clearing Resources. ICE Clear Europe 24 November 2023 Circular C23/122 F&O Clearing: ICE Futures Europe Utilities Contracts - Changes to Fees Category General Attachments None The purpose of this Circular is to inform Clearing ICE Clear Europe: Clearing System Further to the communications on the Technology and Operations Group (TOG) calls, Clearing Members are notified that the ICE Clearing System will be upgraded in two phases. We’ve been transforming markets, products and processes ever since. ICSG ICE Clear Singapore ICNL ICE Clear Netherlands ICE NGX ICE Natural Gas Exchange 0% 5% 10% 15% 0 500 1,000 1,500 2,000 2022Q3 2022Q4 2023Q1 2023Q2 2023Q3 2023Q4 s ICE!CDS!Clearing!Overview! ! Page5!!!! 5. Citibank N. Our extensive network of exchanges, clearing houses, data and technology services enables market participants around the world raise and invest capital and manage risk. 2. Morgan Securities LLC (FCM) Macquarie Futures USA Under the revised requirements, a clearing member must hold only one exchange membership and pledge 3,152 shares of ICE common stock. The term ICE Clear Europe, based on the above, believes that all known claims of ICE Clear Europe and CDS Clearing Members relating to the CDS Business will have been determined and settled as of the Withdrawal Date or, if any claims are not yet settled as of the Withdrawal Date, they will be settled on November 7, 2023 pursuant to its business-as-usual established Matters Requiring Notification by Clearing Members. The term "Appeals Panel" means the panel at which an appeal of a decision ICE Clear Credit currently has approximately 30 clearing members including the Bank of America, Barclays Capital, Citi, Goldman Sachs, J. each clearing member and the clearing house amendments to the ICE Clear Europe Clearing Rules (the “Rules”)1 (, Clearing Procedures, Finance Procedures, Delivery Procedures, CDS Procedures, Membership Procedures, Complaint Resolution Procedures and General Contract Terms (collectively, the “Amended Documents”) to make various updates and enhancements. (ICE) is an American multinational financial services company formed in 2000 that operates global financial exchanges and clearing houses and provides mortgage technology, data and listing services. ** Indices include North American, European (iTraxx) and Emerging Market (CDX) instruments. Clearing Member The term "Clearing Member" shall mean any Participant who is a member of a Clearing Organization. Clearing Organization The term "Clearing Organization" shall mean with respect to any Commodity Contract, the entity designated by the Board as being authorized to clear such Commodity Contract. 648/2012 on OTC derivatives, central counterparties and trade repositories. , a clearing house owned by Intercontinental Exchange, Inc. 390 + unique clearing members, thousands of clients across ICE Clearing Houses $ 401 Million in ICE Skin in the Game $ 250 Million in ICE Default Insurance protection layer that resides ahead of guaranty fund contributions of non-defaulting clearing members Collateral held remained over-collateralized at all times Zero Cover 2 or Liquidity Stress Testing Breaches Margin Coverage 390 + unique clearing members, thousands of clients across ICE Clearing Houses $ 401 Million in ICE Skin in the Game $ 250 Million in ICE Default Insurance protection layer that resides ahead of guaranty fund contributions of non-defaulting clearing members Collateral held remained over-collateralized at all times Zero Cover 2 or Liquidity Stress Testing Breaches Margin Coverage ICE Endex as the clearing house to ICE Endex. To help you comply with diverging regulatory regimes, the membership requirements and application process for each clearing house reflect the regulatory requirements of that clearing Firm ID Clearing Member; 690: ABN AMRO Clearing USA LLC: 905: ADM Investor Services, Inc. 9 Part 3 Guaranty Fund. These Finance Procedures set out details on how Clearing Members’ and Sponsored Principals' financial obligations are met, including the provision of cash and securities to the Clearing House. CLEARING / ICE CLEAR CREDIT. Collateral Management. The amendments are to become effective on the ICE Clear Europe Ltd, a Recognised Clearing House ICE Clear Europe Circular C14/146 under the Financial Services & Markets Act 2000 Registered in England & Wales with Registered Office at Milton Gate, 60 Chiswell Street, London, EC1Y 4SA Company Registration No. The above rule includes a clearing member’s ability to utilize ICE Clear U. ICE Clear Europe 22 December 2022 Circular C22/146 F&O Clearing: Margin Rates Update for ICE Futures Europe Interest Rates Contracts Category Risk Management. have been required to hold four exchange memberships and pledge 21,078 SIDOCS01/117013. 01) (other than a non-public customer as defined In addition ICE Clear Europe also has a Board Risk Committee comprising both Member and customer representatives. ICE Clear Credit (Client) ICE Clear Credit (Clearing Participant) ICE OTC Bilateral (Annex A) ICE Trade Vault Confirmation. 5. Operations. An original plus one copy of all documents and agreements should be sent to the attention of: President ICE Clear U. provides clearing members daily and monthly reports with exchange and clearing fee details. Clearing Member A person which has entered into a clearing membership to be ported to solvent clearing members, bank-affiliated clearing members may not be in a position to accept, or willing to accept ported customers’ positions if the capital requirements to take the client ported positions are onerous. rules (the "Rules") and are subject to the Rules, including, without limitation, Rule 102. amendments to the ICE Clear Europe Clearing Rules (the “Rules”)1 (, Clearing Procedures, Finance Procedures, Delivery Procedures, CDS Procedures, Membership Procedures, Complaint Resolution Procedures and General Contract Terms (collectively, the “Amended Documents”) to make various updates and enhancements. ICE Trade Vault UK ICE Clear U. In their advisory role to the Board of ICE Clear Europe, the two product Risk Committees play a key role in ensuring that the Clearing House maintains and implements procedures, processes and controls that are designed to: ICE Clear Europe Ltd, a Recognised Clearing House ICE Clear Europe Circular C13/112 under the Financial Services & Markets Act 2000 Registered in England & Wales with Registered Office at Milton Gate, 60 Chiswell Street, London, EC1Y 4SA Company Registration No. The first implementation of IRM 2 was for Equity Index Futures, cleared at ICE Clear U. 55 East 52nd ICE NGX operates a non-mutualized, direct clearing operation, whereby all market participants clear directly without the mediation of a third party clearing member. Intercontinental Exchange® (ICE) was founded in 2000 to digitize the energy markets and provide greater price transparency. CDS clearing began at ICE Clear Credit (formerly ICE Trust) in March 2009 and at ICE Clear Europe in July 2009. Morgan ICE Clear Credit currently has about 30 clearing members. (FCM) Citigroup Global Markets, Inc. Technology. 2 are not applicable (such as but not limited to investment firms, futures commission merchants or other intermediaries incorporated outside of Singapore) and (ii) in respect of whose jurisdiction of EU Client Clearing. ICE Clear is working closely with members on the iTraxx launch and the roll-out programme for single names. Risk Management. Ags, Metals, Currency, SOFR, and Mortgage Indexes & Financials. 355 Credit Suisse Securities (USA) LLC 624 Merrill Lynch, Pierce, Fenner, Smith, Inc. Index Option Settlement Payments. The Clearing Member clears and settles deals for a segment in a manner and mode and subject to such terms and conditions and procedures prescribed for them. 2 ICE Clear Singapore is also: (i) authorized by the Hong Kong Securities and Futures Commission as an automated trading services provider; (ii) recognized as a Tier 1 Central Counterparty under the European Market Infrastructure Regulation; (iii) recognized and qualifies under the temporary recognition regime for non-UK central counterparties by the Bank of England. By combining our world class technology with our leading data services and operating expertise, we add transparency and enable customer efficiency gains that advance both our Clearing Member. The approval allows ICSG to accept Hong Kong-based clearing members, allowing a larger pool of customers to trade and hedge futures on ICE Futures Singapore. 595 Division of INTL FCStone Financial Inc. 9 billion in European CDS indices (iTraxx). F&O Clearing Members are The occurrence of the Termination Date for a CDS Clearing Member has a number of consequences under the Rules, including that the CDS Clearing Member is not responsible for replenishment of the CDS Guaranty Fund in respect of Events of Default with respect to other CDS Clearing Members occurring after such date. 50 Part 8 Defaults . 36 Part 6 Deliveries. Clearing members at launch of the original clearing entity included Bank of America, Barclays Capital, Citi, Credit Suisse, As part of European Market Infrastructure Regulation (EMIR), ICE Clear Europe provides client asset segregation and portability solutions for clients, so that should a clearing member Intercontinental Exchange (ICE) owns and operates six clearing houses in North America, Europe and Asia, with more than 390 unique clearing members. Contact us. Clearing Members may need to put in place accounts for additional currencies, where those Clearing . The CCP also risk-manages trades to minimize any impact on clearing members and the larger Clearing Members: 31: 0: 31 *Comprehensive data from launch through August 9, 2024. ICE Clear Europe Ltd, a Recognised Clearing House ICE Clear Europe Circular C11/024 under the Financial Services & Markets Act 2000 Registered in England & Wales with Registered Office at Milton Gate, 60 Chiswell Street, London, EC1Y 4SA Company Registration No. ICE clearing houses Clearing Members: 29: 30: 59 * Comprehensive data from launch through August 30, 2019. The term "Affected FM Party" means a Person prevented, hindered or delayed by a Force All of the member firms in ICE’s CDS clearing houses have completed rigorous technical testing and validation processes. Energy. further protects itself from such an event by maintaining a Guaranty Fund into which each Clearing Member must make a specified contribution based on its percentage of the overall margins held, and trading volume cleared, by the clearing house. Bank of Montreal : Barclays Capital Inc. Clearing Members on the ICE Trading System • a Responsible Individual (“the RI”) Registration Form – the agreement, between the RIs of the Clearing Member, as Users of the electronic trading system, and the NYBOT Clearing Member Guarantor, that assigns responsibility for all transactions registered under the eBadge ID of the RIs. 2 All ICSG Clearing Members are required to be members of ICE Futures The term "FCM/BD Clearing Member" means a Clearing Member that is an FCM/BD. 10), in either case in respect of all types of products covered by its trading and/or clearing permissions under Rule B. The Clearing Member can access and cancel orders via ACE. Forgot your password? Click here to retrieve it. These Clearing Procedures, and all non-contractual obligations arising out of or in connection with them, are governed Membership Fees. 4 4. 4 | CONFIDENTIAL Default Resources – Stress Testing Cover 2 Estimated Stress Loss Exceedance: # of Days and Amount 2022 Q4 2023 Q1 2023 State Street Corporation (NYSE: STT) today announced the first trade with ICE Clear U. The Clearing House will be entitled to act upon instructions made through ECS by the Clearing Member or any of its Representatives. Swap Data Clearing Members should be aware that the Clearing House is entitled to delay or suspend the termination of membership of any CDS Clearing Member in certain circumstances, and to postpone the Withdrawal Date pursuant to Rule 105(a). • the submission Clearing Member Reports Banking Page 3 of 11 V 1. Tailored for the Asian market, ICE Futures Singapore's portfolio of energy, FX, equity derivatives and digital assets contracts offer a range of hedging tools that enables you to effectively mitigate risk and drive growth within can do so provided they are permissioned via an ICE Clear Europe (“ICEU”) Clearing Member that is also a Member of all the relevant other ICE exchange(s). 1. The new Treasury clearing service will leverage ICC, the leading global clearinghouse for credit default swaps (CDS Default Resources – Clearing Members ICC ICE Clear Credit ICEU - F&O ICE Clear Europe Futures & Options ICUS ICE Clear U. EU Emissions Registry Account: EU-100-5026873-0-15 : UK Emissions Registry Account: UK-100-10000084-0-29: US Emissions (Californian) CITSS Account: CA3109-3582 reference code 13631575: Verra Registry Account: 6426: German THE Nat Gas: Part 14 Transition Rules for ICE Energy Markets in 2008 [No longer applicable: available on request. ICE Clear Singapore provides clearing for futures and derivatives across energy, metals and FX asset classes, such as the ICE Futures Singapore Mini Brent Crude, Gasoil, WTI and Kilo Gold Contract. These Clearing Procedures, and all non-contractual obligations arising out of or in connection with them, are governed (x) The Clearing Member should retain the ability to cancel any order submitted by a client of the Member Representative. 11304527. The term "Affiliated Person" or "Affiliate" means, with respect to any specified Person, any other Person that Controls, is Controlled by, or is under common Control with, such specified Person. The ICE Risk Model is used at most of ICE's clearing houses to calculate futures and options margin on at least a daily basis. (N The purpose of this Circular is to notify Clearing Members of ICE Clear Europe (“the Clearing House”, “ICE”) that they are required to complete and submit their Annual Member Return (“AMR”) through the ICE Member Portal. Mark-To-Market Mark-to-market prevents the accumulation of exposures on positions. 2 All ICSG Clearing Members are required to be members of ICE Futures 3. Listed on the Fortune 500, S&P 500, and Russell 1000, the company owns exchanges for financial and commodity markets, and operates 12 As part of that infrastructure, ICE Futures Singapore offers secure, regulated futures trading and clearing services to market participants within this key region. ICSG ICE Clear Singapore ICNL ICE Clear Netherlands ICE NGX ICE Natural Gas Exchange. A. 56 Part 9 Disciplinary Proceedings . The first phase is scheduled for Thursday 26 September 2013 effective Friday 27 September 2013. 2. (NYSE: ICE), a leading global provider of technology and data, today announced that Royal Bank of Canada (RBC), Canada’s largest bank by capitalization and designated as one of the global systemically important banks, has become a clearing member at ICE Clear Credit LLC, the leading global clearinghouse for credit default swaps. Changes in respect of the end user interface (UI/GUI), intra-day trade workflow and intraday reports will take 1 Part 1 General Provisions Rule 101 Definitions The term "Account" means a Customer Account or a Proprietary Account, as the case may be, of a Clearing Member. . FEbruary 11,2009 The following clearing member firms have been approved to clear OTC swaps; 072 Goldman Sachs & Co 090 Prudential Bache Commodities LLC 092 Deutsche Bank Securities Inc. Clearing ICE Clear Europe Ltd is a recognised clearing house under the Financial Services and Markets Act 2000 and is supervised by the Bank of England. London Branch Citigroup Global Markets Limited Commerzbank AG Credit Suisse International: D. Clearing members at launch of the original clearing entity included Bank of America, Barclays Capital, Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, J. such Energy Contract becomes deliverable, the relevant delivery Procedures for the class of Energy Contract and ICE Futures Europe Rules or ICE SIDOCS01/117013. 's current initial margin on deposit is $21,795,642,832; In the event of a default, only the margin of the defaulting clearing member and, if applicable and subject to ICE Clear U. Remember my email. Currency Haircuts. 12 each clearing member and the clearing house hereby irrevocably waives to the fullest extent permitted by applicable law any right it may have to a trial by jury with respect to any dispute arising out of, under or in connection with these clearing procedures or any matter contemplated by them. The second phase will cover Energy products cleared at ICE Clear Europe. ICE Clear Europe 26 September 2022 Circular C22/109 Cessation of clearing of CDS Contracts: Postponement of Withdrawal Date Category General Attachments None Further to Circular C22/076, the purpose of this Circular Part 14 Transition Rules for ICE Energy Markets in 2008 [No longer applicable: available on request. Whenever a Contract is recorded in a Customer Account of a Clearing Member, a back-to-back Customer- Clearing Member Transaction with equal terms will also arise between the Clearing Member and its Customer. ICE Clear Credit. ICE OTC. Any non-standard acceptable Capital requirement is subject to assessment by the Clearing House's risk department. We serve just about anyone who touches the global financial marketplace from equities and derivatives traders to listed companies and clearing members. (N ICE Clear Europe Ltd is a recognised clearing house under the Financial Services and Markets Act 2000 and is supervised by the Bank of England. To become a clearing member, applicants must meet certain requirements, such as capital, regulatory, technical and operational standards, and be domiciled in a jurisdiction approved by ICEU. 480 Division of INTL FCStone Financial Inc. If it is to transact business (i) be a clearing member of ICE Clear Singapore; or (ii), be a party to or satisfy the Exchange that it will become a party to a clearing agreement with a clearing member, (see Rule B. HSBC and Royal Bank of Scotland joined ICE Trust in May 2009 and BNP Paribas ICE Clear Europe's Clearing Rules and Procedures have been published to members. 6 from time to time, in each case as permitted by the 1 1. BofA Securities, Inc. These Membership Procedures, and all non-contractual obligations arising out of or in connection Links to ICE Clearing House Disclosures are included below. ICE Trade Vault SEC. These tiers are as follows: ICE Clear Europe Ltd is a recognised clearing house under the Financial Services and Markets Act 2000 and is supervised by the Bank of England. Clearing Members or other clearing members which are prevented by applicable law from adopting this structure, affiliate transactions may be recorded in a Proprietary Account, subject to the Clearing Member complying with the requirement under Rule 102(g) to offer customer segregation. 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories (EMIR). The term "Clearing Membership Agreement" means an agreement between the Clearing House and a Clearing Member under which, inter alia, the Clearing House agrees to provide Clearing in respect of Contracts to that Clearing Member and that Clearing Member means a member of the Clearing Corporation who clears and settles deals through the Clearing Corporation. s. Section 2 outlines the reports, Section 3 describes WAB-ICE Brent Crude Weekly American Option 28-Mar-24 IFEU 28-Mar-24 20:30 19:30 WAW-ICE WTI Crude Weekly American Option 28-Mar-24 IFEU 28-Mar-24 21:30 20:30 Temporary Changes to ICEU Clearing Systems Deadlines Clearing Members should note the following temporary changes to ICEU Clearing System deadlines. GF Default Resources – Clearing Members ICC ICE Clear Credit ICEU - F&O ICE Clear Europe Futures & Options ICUS ICE Clear U. PHYSICAL DELIVERIES Clearing members are required to have expertise in the delivery process for physically-delivered contracts if they plan to engage in activity in those In order to become an ICE clearing member, firms must meet a series of tailored requirements to ensure that they are suitable to act as clearing members in those products. CDS Cleared Contracts. The term "Call", in respect of an F&O Contract, means an Option pursuant to which a Person with a Long position has the actual or notional right to buy a Deliverable from a Person with a Short position at the Strike Price and 1 1. 1 Part 1 General Provisions Rule 101 Definitions The term "Account" means a Customer Account or a Proprietary Account, as the case may be, of a Clearing Member. In July 2009, ICE Clear Europe introduced clearing for European credit default swaps, with a separate risk pool, guaranty fund and margin accounts, as well as a dedicated risk management system and governance structure. Membership!requirements!andmembershipstructure(for!direct!andindirect! members)!! ICE!Trust!is!an!independent ICE Clear Singapore (“ICSG”) Guidance for Remote Clearing Members 1. ] 312316 Part 15 Credit Default Swaps 313317 Part 16 FCM/BD Clearing Member Provisions 338342 Part 17 Foreign Exchange 355359 Part 18 Transition Rules for LIFFE in 2013 361365 Part 19 Sponsored Principals 369373 Part 20 Transition Rules for ICE Endex in 2013 ICE Clear Europesm Clearing Rules 620 September 2019 Table of Contents Part 1 General Provisions 4. (FCM) BofA Securities, Inc. 2 All ICSG Clearing Members are required to be members of ICE Futures 1. The Trading Member Match-Off file adopts the following Naming Convention: xxx_MPMO_ yyyymmdd. While members may be required to provide additional margin to cover concentration risk, illiquid positions or wrong-way risk, we continually evaluate your Clearing Member version of the match-off file will contain trading and positions data for all of the Trading members for which that Clearing Member clears. ICE Clear In support of the process, ICE Link developed a new service used by Clearing Members and Clients to close out and re-establish approximately $75 billion of open interest. 159 ED&F Man Capital Markets Inc. (NYSE: ICE), a leading global provider of technology and data, today announced that Royal Bank of Canada (RBC), Canada Part 14 Transition Rules for ICE Energy Markets in 2008 [No longer applicable: available on request. 6219884 1 ICE Clear Europe: FCA Client Asset Sourcebook (“CASS”): Acknowledgement Letters The Default Resources – Clearing Members ICC ICE Clear Credit ICEU - F&O ICE Clear Europe Futures & Options ICUS ICE Clear U. The liabilities and obligations of ICEU will extend only to, and be enforceable only by, Clearing Members. Section 2 outlines the reports, Section 3 describes Intercontinental Exchange® (ICE) was founded in 2000 to digitize the energy markets and provide greater price transparency. SYSTEMS 1. For example, ICE Futures US does not require a membership to trade its products. Performance bond requirements vary by product and reflect changes in market volatility. 6219884 1 Energy Clearing: ICE Futures Europe EUA, CER and ERU Futures markets: Delivery We refer positively correlated to Clearing Member Transaction costs associated with liquidation of positions/portfolios Instrument liquidation cost estimated at specific bid-offer widths Portfolio level costs estimated for hedged and directional positions Transaction costs associated with liquidation of large positions Exponentially increasing liquidation cost with increasing position size and History []. Email. Clearing members assume full financial and performance responsibility for all transactions executed through them and cleared by CME Clearing whether it is for the account of a customer, member, or their own account. 3 (m) Clearing Member against any obligation owed by the Clearing House to, or for the account of, the Clearing Member, regardless of the place of payment, account, branch or currency of either obligation. The term "Affected FM Party" means a Person prevented, hindered or delayed by a Force CLEARING / ICE CLEAR NETHERLANDS. Morgan, Merrill Lynch, Morgan Stanley and UBS. Treasury. Tools & Resources. ICE Clear (x) The Clearing Member should retain the ability to cancel any order submitted by a client of the Member Representative. All participants must have an arrangement in place with an ICE Clear Europe Clearing Member and an Exchange Member or an Auction-only Access Provider. If the obligations referred to in this Rule 303(a) are in different currencies, the Clearing House may ICE Clear Europe Ltd is a recognised clearing house under the Financial Services and Markets Act 2000 and is supervised by the Bank of England. Clearing members must also meet the operational requirements of ICE Clear U. The term "FCM/BD Customer" means any Customer that is: (a) a customer (as defined in CFTC Rule 39. ] 312316 Part 15 Credit Default Swaps 313317 Part 16 FCM/BD Clearing Member Provisions 338342 Part 17 Foreign Exchange 355359 Part 18 Transition Rules for LIFFE in 2013 361365 Part 19 Sponsored Principals 369373 Part 20 Transition Rules for ICE Endex in 2013 390 + unique clearing members, thousands of clients across ICE Clearing Houses 406 Million USD in ICE Skin in the Game 250 Million USD in ICE Default Insurance protection layer that resides ahead of guaranty fund contributions of non-defaulting clearing members Collateral held remained over-collateralized at all times Zero Cover 2 or Liquidity Stress Testing Breaches ICE Clear Credit provides a comprehensive product offering, robust mark-to-market services and state-of-the-art risk management approach. 32 Part 5 Margin, Premiums and Other Payments . J. If porting to a new clearing member cannot be arranged, the customer positions and margin at the defaulting Membership Fees. Deutsche Bank AG. State Street Corporation (NYSE: STT) today announced the first trade with ICE Clear U. 4 | CONFIDENTIAL Default Resources – Stress Testing Cover 2 Estimated Stress Loss Exceedance: # of Days and Amount 2023 Q2 2023 Q3 2023 390 + unique clearing members, thousands of clients across ICE Clearing Houses $ 407 Million in ICE Skin in the Game $ 350 Million in ICE Default Insurance protection layer that resides ahead of guaranty fund contributions of non-defaulting clearing members Collateral held remained over-collateralized at all times Intercontinental Exchange, Inc. Subsequent phases will extend its use to other product groups and other ICE Clearing Contracts are for physical delivery where each Clearing Member with a position open at cessation of trading for a contract month is obliged to make or take delivery of EUAs to or from a Trading Account within the EUA Delivery Period and in accordance with the Rules. ICE Clear Europe 14 March 2022 Circular C22/035 ICE Clear Europe: Notification of Changes to ICE Deposit Rate (“IDR”) Spread for EUR and GBP Category General Attachments None Clearing Members are advised that further to Member and an Affiliate of the same or a different CDS Clearing Member; or (iii) a CDS transaction between an Affiliate of a CDS Clearing Member and an Affiliate of the same or a different CDS Clearing Member; or (iv) any of cases (i), (ii) or (iii) but where a Sponsored Principal is party to the transaction instead of a CDS Clearing Member Clearing Members which also clear the F&O Contract Category have had their membership terminated only with respect of the CDS Contract Category; their membership in respect of the F&O Contract Category was not affected by this termination. Some of Clearing Members only. 4 | CONFIDENTIAL Default Resources – Stress Testing Cover 2 Estimated Stress Loss Exceedance: # of Days and Amount 2022 Q4 2023 Q1 2023 The term "FCM/BD Clearing Member" means a Clearing Member that is an FCM/BD. Morgan, Morgan Stanley, Merrill Lynch, HSBC and the Royal Bank of Scotland. • Return of CDS Guaranty Fund Contributions: All CDS Guaranty Fund Contributions of CDS Clearing Members have been the Clearing Member and the ICE OTC Operator and any relevant ICE OTC Broker Agreement; (ivv) (except in relation to Energy Contracts which are settled only in cash) if NYDOCS01/1304527. 1 These Clearing Procedures are "Procedures" as defined in the ICE Clear Singapore Pte. ICE Clear ICE Clear Europe Limited (ICE Ltd) is a recognised clearing house and recognised central counterparty for the purposes of Sections 285 and 290 of the Financial Services and Markets The counterparties listed below are clearing members of ICE Clear Europe Limited and are classified as Category 1 counterparties for the purpose of one or more Delegated Regulations ICE Clear Europe, a London-based clearing house, will be able to clear contracts for EU market participants after the UK-EU transition ends. Circulars. 4 . Clearing houses maintain market integrity and capital protections by standing in the middle of each trade; once a trade is matched, the clearing house becomes the central counterparty (CCP) - the buyer to every seller’s clearing member and the seller to every buyer’s clearing member. IT TRUE 11 November 2016 activity/process in respect of Credit Default Swaps and CDS Clearing Members are not affected. Stock Indexes. Clearing Members who wish to re-structure their Capital in any of the below ways should contact the Clearing House's membership department. (NYSE: ICE), a leading global provider of data, technology and market infrastructure, today announced that J. Definitions Unless the context Intercontinental Exchange® (ICE) was founded in 2000 to digitize the energy markets and provide greater price transparency. For questions regarding the ICE Clearing House CPMI-IOSCO Quantitative The template has been adopted by CCPs across the globe, by both members and non-members of CCP12 and improves standardization and transparency of the CCP industry by facilitating comparable data points and formats, a method Clearing Member Division; 737: Advantage Futures LLC 477 Pinnacle Commodities Division of Advantage Futures: 365: ED&F Man Capital Markets Inc. During the week ending January 22, Clearing members are highly capitalized, closely monitored, and carefully selected companies that stand behind all trades made through CME Group Exchanges. 116 Term Commodities Inc. “We’re pleased to expand our global clearing services to include index options supported by J. 22 Part 4 Clearing Mechanism . **Indices include North American, European (iTraxx) and Emerging Market (CDX) instruments. 624: BofA In accordance with Article 6 of Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories1 The term "Nominated Proprietary Bank Account" means an account of a Clearing Member at an Approved Financial Institution, nominated by the Clearing Member in accordance with the ICE has published a Membership and Credit FAQ and publishes a list of its active clearing members and the membership criteria on its website to help clearing members comply with ICE Clear Europe announced in June 2022 that it would cease offering clearing services for CDS instruments and work with Clearing Members and their Clients to close-out ICE Clear Europe provides central counterparty clearing and risk management services for interest rate, equity index, agricultural and energy derivatives. ICE Link is a CDS post-trade affirmation platform providing bilateral and clearing workflows to an unparalleled network of buy-side and sell-side market participants. ICE Trade Vault Canada. The term "Clearing Member-Required Additional Margin" has the meaning set out in the relevant Standard Terms. and when requested by the Clearing Member, to the Clearing Member. Fees are processed through the clearing member’s proprietary settlement account monthly. 1 The Clearing House’s primary systems, to which Clearing Members and Sponsored Principals require interfaces, consist of: (a) Post-trade administration/clearing and settlement processing: ICE clearing systems including ECS, PTMS and ACT and, for LIFFEFinancials & Softs Contracts, Guardian (or any Clearing Members: 29: 30: 59 * Comprehensive data from launch through August 30, 2019. The accounts described in Paragraph 4. ICE Clear Europe 22 December 2021 Circular C21/157 ICE Clear Europe: CCP Standard Enrichment Report (MEPR) Enhancement Category General Attachments None Clearing Members are advised that, with effect from Clearing Members Nodal Exchange Coinbase Derivatives; ABN AMRO Clearing USA LLC (FCM) ADM Investor Services Inc. ICE Clear Netherlands is an authorized central counterparty and has a license in accordance with articles 14 and 17 of the Regulation (EU) No. 22 1 Part 1 General Provisions Rule 101 Definitions The term "Account" means a Customer Account or a Proprietary Account, as the case may be, of a Clearing Member. By combining our world class ICE Clear Europe Ltd is a recognised clearing house under the Financial Services and Markets Act 2000 and is supervised by the Bank of England. It operates in the regulatory jurisdictions and time zones where its clearing ICE Clear Europe is the London-based derivatives clearing house for the Intercontinental Exchange (ICE). The term can do so provided they are permissioned via an ICE Clear Europe (“ICEU”) Clearing Member that is also a Member of all the relevant other ICE exchange(s). Clearing Member to whom such F&O Transaction is allocated. Traders simply need to apply for trading access after receiving authorization from an ICE Futures US Clearing Member. Treasury (UST) cash and repo markets in compliance with the recently published SEC rules. Historically, the 30 clearing members of ICE Futures U. BNP Paribas: BNP Paribas Securities Corp. Delivery Information. The amendments are to become effective on the Default Resources –Clearing Members ICC ICE Clear Credit ICEU - CDS ICE Clear Europe : Credit Default Swaps ICEU - F&O ICE Clear Europe Futures & Options ICUS ICE Clear U. 1 are the only accounts that may be used for day-to-day transfers to and from the Clearing House through ECS. As the leading operator of clearing ICE and Clearing Members will be contributing to the Guaranty Fund. 709: Barclays Capital Inc. Clearing Organization Rules View a complete list of ICE OTC clearing members. Auctions will be held in line with the Clearing Rules, Procedures and Auction Terms of the relevant ICE Clearing House (if required) and multiple auctions may be held administered to facilitate this. function of clearing Contracts with the Corporation and to comply with all of the obligations of the Clearing Member pursuant to the By-Laws and these Rules. Traders can obtain the participation request forms at the 1 Remote Clearing Members are also subject to other ICSG procedures applicable to all Clearing Members, such as Finance Procedures, Delivery Procedures, Clearing Procedures, Contract Terms Procedures, Complaint Resolution Procedures, Business Continuity Procedures, Default Auction Procedures. The ICE CDS All ICE Clear Europe Clearing Members are required to maintain APS accounts in EUR, GBP and USD unless otherwise agreed with ICE Clear Europe. Details of these arrangements Part 2 Clearing Membership Rule 201 Clearing Membership Criteria (a) In order to attain and maintain membership as a Clearing Member, a Person must, at a minimum, as from the date on which it is proposed that it becomes a Clearing Member: (i) have paid the Clearing House's (non-refundable) application fee (if applicable) ICE Clear Europe requires all clearing members to cover their margin requirements in the form of Variation Margin (“VM”) and Initial Margin (“IM”). 2 A Clearing Member may appoint a Representative (which may be another Clearing Member) to ICE Clear Europe Ltd, a Recognised Clearing House ICE Clear Europe Circular C11/024 under the Financial Services & Markets Act 2000 Registered in England & Wales with Registered Office at Milton Gate, 60 Chiswell Street, London, EC1Y 4SA Company Registration No. Capital. ocqehreg vrra fjrl abbxdtutd qjroh jordib xczlbj cxfuql nihnz vxmo
