ICE Clear Europe Limited has submitted a proposal to amend its Delivery Procedures, introducing a new section to facilitate the delivery of Murban Crude Oil Futures Contracts traded on ICE Futures Abu Dhabi. These changes, effective immediately, aim to ensure proper delivery and settlement procedures are in place, which comply with existing regulatory standards. The proposed amendments do not appear to affect competition or clearing member costs and have not received public comments. Public feedback is welcome by March 9, 2021, as part of the Securities and Exchange Commission's review process.
Simple Explanation
ICE Clear Europe wants to change the rules to make sure people trading Murban Crude Oil have a fair way to deliver and receive the oil. They promise these changes won't cost more money or create unfair competition and are asking for people's thoughts until March 9, 2021.