IFUS Rule Change: New Clearing Obligations

ICE Futures U.S. announced that, effective October 17, the Exchange is implementing rule amendments which formally establish a new member category for participants with a direct connection to the electronic trading system. Such participants are identified as "Direct Access Members." Such firms do not own any interest in the exchange; however, they are eligible for lower margin requirements. In connection with the codification of Direct Access Members, the Exchange has also defined Clearing Member obligations with respect to such Members and to other customers.

View exchange notice here (links externally to ICE website).