ICE

In order to trade on the electronic platform a Member must register at least one Responsible Individual (RI) with ICE Endex in accordance with the ICE Endex Rules. Responsible Individuals must follow a set of guidelines that govern trading on the Exchange. The full set of requirements for Responsible Individuals should be reviewed by those wishing to register as an RI. Download the Responsible Individual Requirements here.

Requirements

  1. In order to trade on the ICE Endex Platform a Member must register at least one Responsible Individual with ICE Endex in accordance with the ICE Endex Rules.
  2. A general or trade participant may, at the discretion of ICE Endex, register as many Responsible Individuals as it feels necessary according to the nature and scale of its business.
  3. To become registered as a Responsible Individual an applicant must:
    1. be familiar with relevant ICE Endex Rules;
    2. be aware of the Responsible Individual's obligations;
    3. complete the Responsible Individual Registration Form in which he confirms that he will comply with ICE Endex Rules and will be responsible for all business conducted under any ITM(s) assigned to him by ICE Endex or any other ITM for which he is nominated by his member.
  4. It is the Member's responsibility to ensure and attest to ICE Endex that the person applying for Responsible Individual status is adequately trained and suitable to fulfil the role.
  5. After registration, a Responsible Individual will:
    1. be issued with a login ID and a password to access the ICE Endex Platform using an ITM(s) assigned by ICE Endex. It will be the Member's and Responsible Individual's responsibility to allocate this system access information to the traders who will trade on the company's behalf using the Responsible Individual's ITM; (This is limited to one trader per ITM using the system at any one time for this phase)
    2. be assigned one or more Individual Trading Mnemonics (ITMs) depending on how the Member conducts separate lines of business.

General

  1. A Responsible Individual is responsible for all business conducted under an ITM(s) assigned to him by ICE Endex and must ensure to the best of his ability, that all business submitted through his ITM(s) complies with the ICE Endex Rules and other appropriate regulatory requirements.
  2. It will be the Member's responsibility to implement suitable procedures to limit the use of the ITM(s) to the relevant qualified traders only.
  3. The Responsible Individual is not required to be a trader. At the Member's discretion he may fulfil a supervisory role if the Member considers the individual to be adequately trained and have the relevant experience to control all orders submitted under the ITM(s) at all times.
  4. A Responsible Individual must have the authority to edit, deactivate or delete any orders submitted through his ITM(s) at the ICE Endex Platform supervisor's request.
  5. A Responsible Individual must be able to identify and disclose the immediate source of all orders submitted under his ITM(s) to ICE Endex.
  6. Where a Member has granted a client access to an ITM via an Order Routing System, it is the Member's responsibility to vet the client appropriately. It is the responsibility of the Responsible Individual to whom the ITM is assigned to supervise the orders entered by the client.
  7. The Responsible Individual is required to use audio logged telephone lines for all business related to ICE Endex Platform traded contracts. These records must be kept for a minimum of three months and available to ICE Endex Compliance on request.

Cover in the event of the absence of the Responsible Individual

  1. The Responsible Individual must be contactable at all times if business is submitted under his ITM(s), unless the ITM(s) is being supervised by another Responsible Individual for a continued period of absence (see 14.b below).
  2. To facilitate the continuation of business under a Responsible Individual's ITM in the event that the Responsible Individual is absent, the Member/Responsible Individual may delegate the responsibility for business conducted under that ITM to another person within the Member firm.
    a. In the case of a limited absence (within a business day) the person nominated does not have to be registered as a Responsible Individual. The Member and Responsible Individual must ensure that the nominated person is adequately trained and suitably qualified to fulfill the role. In the event of a Rule breach the Responsible Individual and/or the Member may be subject to any disciplinary action.
    b. In the case of a continued period of absence (one or more business days) the Member must nominate another Responsible Individual to cover any business conducted under the absent Responsible Individual's ITM(s). In the event of a Rule breach the nominated Responsible Individual/and or the Member may be subject to disciplinary action.
  3. ICE Endex does not need to be informed of any nominated Responsible Individual. At the time of registration, a Responsible Individual confirms that he shall be responsible for all business conducted under his ITM(s) or any other ITM for which he is nominated by his Member. It is the Member's responsibility to set up internal procedures to keep a signed detailed log of Responsible Individuals supervising business conducted under the ITM(s) of absent Responsible Individuals.
  4. An ICE Endex Supervisor may contact the Responsible Individual at any time if there is business submitted through his ITM(s) and will only accept information directly from the Responsible Individual or the person nominated to cover the ITM(s) of that Responsible Individual.

Sanctions

  1. In the event of a breach of ICE Endex Rules by the Responsible Individual, or persons trading under the Responsible Individual's ITM(s) or via an Order Routing System , sanctions may be imposed on the Responsible Individual unless he can prove, to the satisfaction of ICE Endex, that he had taken all reasonable steps to prevent a breach.
  2. If a Responsible Individual commits a Rule breach, sanctions may also be imposed on the Member unless the Member can prove to the satisfaction of ICE Endex, that it had taken all reasonable steps to prevent the breach.