ICE Clear U.S. ("ICUS") Increases Clearing Member Minimum Cash Requirement for Guaranty Fund Contributions

Saying that it was acting in response to the CFTC's focus on the liquidity of resources available to central counterparties, ICE Clear U.S. ("ICUS") announced it would be increasing the amount of the Clearing Member contributions for the Guaranty Fund that must be kept in cash. Effective December 31, all Clearing Members will be required to maintain 50% of their Guaranty Fund requirements in cash. ICUS Rules and Risk Policies Bylaw 5.4(c) currently requires Clearing Members to maintain the first $50,000 of a Guaranty Fund deposit in cash, and states that the balance may be met with cash, U.S. government securities, or approved money-market funds. After the increase of the Clearing Member minimum cash requirement, the remaining balance can continue to be met with cash or existing alternatives.

See: ICE Notice.