ICE Clear Europe notified the Commodity Futures Trading Commission and the Securities and Exchange Commission that it intended to set up new position keeping accounts for use by CFTC-registered futures commission merchant clearing members and SEC-registered broker-dealer clearing members for positions of their affiliates that will be separate from the clearing members’ own proprietary accounts and distinct from its customer accounts. This will permit such FCMs and BDs to comply with both European and US legal requirements that impose conflicting obligations on such entities regarding the handling of affiliates’ positions.
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ICE Clear Europe Proposes Clearing Procedure Amendments to Different FCM/BD Affiliates’ Accounts From Customer Accounts
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