ICE

ICE Clear Europe operates separate Risk Committees for Credit Default Swaps (CDS) and Futures and Options products.

The Futures and Options Risk Committee covers ICE's exchange traded energy markets (including ICE Endex energy derivatives) and the financial & soft commodity futures and options markets. The CDS Risk Committee covers European CDS products. In addition ICE Clear Europe also has a Board Risk Committee comprising both Member and customer representatives.

In their advisory role to the Board of ICE Clear Europe, the two product Risk Committees play a key role in ensuring that the Clearing House maintains and implements procedures, processes and controls that are designed to:

  • Protect the integrity of the guaranty fund;
  • Manage and mitigate credit and market risks;
  • Consider applications for membership; and
  • Review the clearing of new products

The ICE Clear Europe product Risk Committees and Board Risk Committee currently comprise:

F&O Risk CommitteeCDS Risk CommitteeBoard Risk Committee
The Chairman of the Risk Committee (a Non-Executive Director of ICE Clear Europe)The Chairman of the Risk Committee (a Non-Executive Director of ICE Clear Europe)The Chairman of the Board Risk Committee (an Independent Non-Executive Director of ICE Clear Europe)
Two ICE Clear Europe officers; the President and the Chief Risk Officer (Secretary)Two ICE Clear Europe officers; the President and the Chief Risk OfficerUp to four Clearing Member representatives
Up to 12 Clearing Member representativesUp to 12 Clearing Member appointeesUp to four Clearing Member representatives
One representative from ICE Clear USUp to four Customer representatives
One representative from ICE Futures Europe - Energy
One representative from ICE Futures Europe - Financials & soft Commodities
One representative from ICE Futures US