ICE Futures U.S. amended its guidance regarding exchange for related position transactions to make clear that swaps that will settle or forward contracts that may settle through EFRPs will not be considered to be part of prohibited transitory EFRP arrangements where the swap or forward contract is “subject to market risk that is material in the context of the transaction.” IFUS initially proposed this guidance amendment earlier this month. (Click here for details of IFUS’s proposal in the article, “ICE Futures U.S. Proposes to Authorize Settlement of Certain Forward Contracts and Swaps through EFRPs” in the October 9, 2016 edition of Bridging the Week.)