On June 9, the Commodity Futures Trading Commission issued a Notice of Intent, pursuant to CFTC Rule 36.3(c)(3), to undertake a determination whether the Henry Financial LD1 Fixed Price contract (Contact) traded on Intercontinental Exchange, Inc. (ICE) performs a significant price discovery function. If the CFTC determines that the Contract serves such a function, ICE, an exempt commercial market, would be required to comply with the core principles set out in section 2(h)(7)(c) of the Commodity Exchange Act and Part 36 of the CFTC rules, including position limit and large trader reporting requirements. The comment period closes July 13.
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CFTC seeks comment on whether ICE contract performs significant price discovery function
USA June 19 2009
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