Search Results for keywords:"ICE Clear Credit LLC"

ICE Clear Credit LLC (ICC) proposed a rule change to improve their risk management practices. The updates, which require approval from the Securities and Exchange Commission, focus on automating daily parameter updates for credit default swap risk factors and enhancing documentation. ICC believes these changes will enhance risk management by ensuring more accurate margin calculations and improving clarity in their risk assessment methods. Public comments on the proposal are being solicited until April 10, 2025.

ICE Clear Credit LLC (ICC) has proposed a change to its fee schedule, introducing a Client Volume Incentive Program. This program provides discounts on fees for clients who have annual billed fees for credit default swaps (CDS) exceeding $1 million USD. The discount is tiered, with up to 90% off for fees exceeding $6.4 million USD. The plan encourages more clients to use ICC's clearing services without imposing competitive burdens.

The Securities and Exchange Commission has approved rule changes proposed by ICE Clear Credit LLC, a clearing agency for Credit Default Swap (CDS) contracts, to update its End-of-Day Price Discovery Policies and Procedures. The changes aim to improve ICC's price discovery process by clarifying the definitions of terms like Most-Actively-Traded-Instrument and bid-offer widths, refining methodologies for accurate end-of-day pricing, and increasing transparency by publishing prices for all eligible instruments. These revisions are consistent with regulatory requirements, intended to ensure accurate pricing and risk management, and to provide reliable data for participants and the market.

ICE Clear Credit LLC (ICC) filed a proposed rule change with the Securities and Exchange Commission (SEC) on February 25, 2025. This change involves revising the ICC Liquidity Risk Management Framework by removing an outdated cross-reference in Section 2.4. The proposed change is considered effective immediately under specific provisions of the Securities Exchange Act of 1934. The SEC published a notice to invite comments from the public, with submissions due by April 1, 2025.

ICE Clear Credit LLC (ICC) has submitted a proposed rule change to the Securities and Exchange Commission (SEC) under the Securities Exchange Act of 1934. The proposal aims to update its Rulebook to allow for clearing an additional Standard Emerging Market Sovereign credit default swap contract related to Ukraine. This change is intended to reduce counterparty risk and improve the safeguarding of margin assets without altering ICC's existing risk management framework. The U.S. Securities and Exchange Commission is inviting public comments on this change to ensure that it aligns with statutory requirements.

ICE Clear Credit LLC (ICC) has filed a proposed rule change with the Securities and Exchange Commission to update its Operational Risk Management Framework. These revisions aim to enhance the management and assessment of risks associated with ICC's operations and ensure compliance with relevant regulations. The changes involve aligning its processes with the Enterprise Risk Management Policy of ICC's parent company, Intercontinental Exchange, and clarifying ERM's role in risk reporting and assessment. This proposal does not alter ICC's Clearing Rules and seeks to improve operational transparency and the protection of investors and the public interest.

The Securities and Exchange Commission (SEC) approved a rule change proposed by ICE Clear Credit LLC (ICC) to revise its Operational Risk Management Framework (ORMF). This change enhances how ICC manages risks from partnerships with core service providers, including requiring evaluations of these relationships by senior management and ICC's Board. The updates align ICC with regulatory requirements, helping ensure clear responsibilities and improving the governance and risk management of operations associated with clearing securities transactions. The approval was granted on an accelerated basis to meet the compliance date of December 5, 2024.

ICE Clear Credit LLC (ICC) has proposed a rule change related to its Default Management Procedures, specifically aiming to formalize the process of convening its CDS Default Committee through teleconferences when in-person meetings are not possible. The proposal includes updates on notification procedures to ensure timely and accurate alerts during the default management process. These changes are designed to enhance ICC's ability to manage defaults effectively, in compliance with regulatory standards, and to ensure continued service delivery while safeguarding securities and investor interests. The Securities and Exchange Commission invites public comments on the proposed changes.

ICE Clear Credit LLC (ICC) has filed a proposed rule change to update and formalize its Governance Playbook, which outlines the governance structure and procedures at ICC. The Playbook consolidates information regarding the board of managers, various committees, and key management roles, emphasizing the importance of transparency, safety, and efficiency. These updates aim to ensure that ICC's governance arrangements are clear and effective, promoting the secure and accurate handling of securities transactions and derivatives. The Securities and Exchange Commission seeks comments from the public on this proposed rule change to gauge its impact and compliance with relevant regulations.

The Securities and Exchange Commission (SEC) is considering a proposed rule change submitted by ICE Clear Credit LLC. This change involves revising ICE Clear Credit's rules and introducing new procedures to better define the process for selecting "Contract Reference Obligations," which are important in determining obligations during credit events for single-name credit default swap contracts. The amendments aim to enhance transparency and ensure that these selections represent the consensus among market participants. The SEC invites public comments on this proposal until March 26, 2025, with a decision expected within 45 days of its publication.