On Sep. 21, ICE CUS issued annual default management test timeline.
ICE CUS issued Notice 26/052 on annual default management test on Oct. 26, 2026.
Annual Default Management Test
ICE CUS noted that it will perform an annual test of its Default Management Procedures, including mandatory default auction drills, on Monday Oct. 26, 2026.
ICUS plans to conduct a Default Management Test based on the hypothetical default of a Clearing Member; Clearing Member participation in this test will be mandatory.
Default auction procedures set out the requirements re minimum bids and consequences for clearing members that do not comply with their obligations.
ICE CUS will contact relevant default management coordinators as provided by clearing members in the Annual Contact Survey in order to support coordination of the test.
ICE CUS will hold calls in October to provide an overview of the Default Management Test scope and of ICE’s Default management system (DMS).
ICE CUS continues to encourage clearing member clients to take part in the auction as this enables market participants to familiarize themselves with ICE CUS processes.
Following the default management test, ICE CUS communicates results to each auction participant, the ICE CUS Risk Committee, ICE CUS Board, and, upon request, CFTC.
