The Commodity Futures Trading Commission has issued an order granting a request from ICE Clear Europe regarding portfolio margining of futures and foreign futures contracts.
The order, which is pursuant to Section 4d(a) and (b) of the Commodity Exchange Act, amends an earlier order dated 15 October 2012, which set forth terms and conditions under which ICE Clear Europe and its clearing members that are registered futures commission merchants may (1) commingle in an account subject to Section 4d(a) and (b) (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 15 October 2012 order related to certain energy contracts, and the amended order applies to additional products including certain interest rate, energy, and financial contracts.
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