Intercontinental Exchange (ICE) is opening its
over-the-counter electronic trading market to US-registered
futures traders and locals, following regulatory approval by
Commodity Futures Trading Commission.
Until the new arrangement, registered traders and locals
with floor or electronic trading privileges on any regulated US
futures exchange will be able to execute OTC transactions on
the ICE platform once they have signed the exchange's
The move follows an expansion of the Commodity Futures
Modernisation Act's definition of eligible commercial entity
(ECE) to cover registered futures traders. ICE itself is
defined as an 'exempt commercial market', participants on which
must be ECEs. David Goone, ICE senior vice president, told
FO Week that futures traders registering to trade on
ICE, and with a suitable clearing relationship with an FCM,
would have access to all markets they are capable of
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