IntercontinentalExchange, Inc. (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets, today issued the following statement regarding the Commodity Futures Trading Commission’s (CFTC) Meeting on Energy Position Limits and Hedge Exemptions.
We believe today’s meeting demonstrates progress toward the implementation of a carefully considered position limit and concentration regime for energy markets. ICE looks forward to submitting detailed comments on the CFTC’s recommendations in accordance with the timeline set forth by the Commission.
ICE has a track record of working with global regulators and policy makers to ensure that its futures and OTC markets are transparent and operate effectively. Since 2008, ICE Futures Europe has applied U.S. regulatory requirements to its U.S. energy contracts and intends to consistently apply modifications in regulatory requirements to these contracts, pursuant to existing CFTC and U.K. Financial Services Authority cooperation.