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IntercontinentalExchange (NYSE: ICE), a leading operator of global derivatives exchanges and over-the- counter (OTC) markets, today announced that it has received final regulatory approval for a cross-margining program for futures and options based on Russell Indexes.
The approval, announced today by the U.S. Commodity Futures Trading Commission, will allow ICE Clear U.S.(TM) (ICE Clear), the clearing house for ICE Futures U.S.(TM), and the Options Clearing Corporation (OCC), the clearing organization for U.S. exchange-traded equity and equity index options, to cross-margin positions between the two clearing organizations. Cross-margining allows market participants who qualify under the terms of the program to benefit from lower margins for risk-reducing positions in related markets. The availability of cross-margining is an important consideration for market participants who use related markets to hedge risk.
For more details on the cross-margining program, including terms of eligibility and a reference guide, please visit the ICE website at: https://www.theice.com/clearing_cross_margin.jhtml.
ICE Futures U.S. offers futures contracts based on Russell Indexes, including the Russell 2000(R) Index. Beginning in the third quarter of 2008, ICE Futures U.S. will be the exclusive venue for trading Russell Index futures and options on futures as a result of the agreement reached in June of 2007 between ICE and the Russell Investment Group. Access to the Russell Index futures contracts is available through WebICE, brokerage firm systems and approved independent software vendors (ISVs).
About IntercontinentalExchange
IntercontinentalExchange(R) (NYSE: ICE) is a leading operator of global exchanges and over-the-counter (OTC) markets. ICE offers futures and OTC markets on a single trading platform, including markets for crude oil and refined products, natural gas, power and emissions, as well as agricultural commodities and financial products such as canola, cocoa, coffee, cotton, ethanol, orange juice, wood pulp, sugar, foreign currency and equity index futures and options. ICE(R) conducts its energy futures markets, including the leading oil benchmark contracts, through its London-based exchange, ICE Futures Europe(TM). ICE conducts its global agricultural commodity, foreign exchange and equity index futures markets through its U.S. and Canadian exchanges, ICE Futures U.S.(TM) and ICE Futures Canada(TM), and offers clearing services through ICE Clear U.S.(TM) and ICE Clear Canada(TM). ICE's state-of-the-art electronic trading platform serves market participants in more than 55 countries. ICE is included in the Russell 1000(R) Index and the S&P 500 Index. Headquartered in Atlanta, ICE has offices in Calgary, Chicago, Dublin, Houston, London, New York, Singapore and Winnipeg. For more information, please visit www.theice.com.
