On Apr. 4, ICE NGX issued revisions to contracting party agreements.
ICE NGX submitted self-certification on proposed rule to amend Contracting party agreement (CPA) on communication expectations for discrepancies in collateral values.
Amendments
ICE proposed to strengthen legal arrangements in respect of ICE NGX data products.
Codified communications expectations relating to discrepancies in collateral values.
Also proposed to codify ICE NGX’s existing practice to require that margin calls relating from the application of stress loss charge be met within the same business day.
Changed the minimum block transaction size for physically settled gas products.
Clarifying amendments, including relating to netting across contracting party affiliates; and on requirement for contracting parties to provide collateral upon request.
Also, contracting parties attorning to the Commission’s jurisdiction and providing books and records to CFTC in relation to NGX’s activities as foreign board of trade (FBOT).
Effectiveness
ICE NGX intends to implement proposed amendments to the CPA on May 1, 2025.
Regulators
ICE NGX
Entity Types
B/D; Exch
Reference
RF, 4/4/2025
Functions
Compliance; Financial; Legal; Operations; Record Retention; Risk; Trading
