ICE Futures U.S.(TM), a wholly-owned subsidiary of IntercontinentalExchange (NYSE: ICE), announced today effective with the start of trading on Friday, December 21st, the exchange is implementing Trade At Settlement ("TAS") capability in the ICE electronic trading system for Russell 2000(R) Mini futures contracts. TAS trading will be enabled for each of the front three contract months in the Russell 2000 Mini futures contracts. This capability was also added for Cotton No. 2 and FCOJ-A futures contracts on December 14th, 2007.
Orders to buy or sell a futures contract at the settlement price can be submitted at the start of the pre-open period for the respective product through the end of the futures contract settlement window each day. For the Russell 2000 Mini, the pre-open begins at 7:45 p.m. ET the prior calendar day and the settlement window is 4:14 p.m. to 4:15 p.m. ET.
TAS orders will be matched on a first-in, first-out basis. Once matched, each TAS transaction will receive a trade price equal to the daily settlement price for the respective futures contract month, as determined and published by the exchange.
Market participants desiring more information about TAS capability for the Russell 2000 Mini futures are encouraged to contact ICE at (212) 748-3949.
TAS capability will be added for other ICE Futures U.S. products in the near future.