ICE
To be eligible for election as a NYBOT Member of ICE Futures U.S., an individual must:
  • Be a natural person at least twenty-one (21) years of age;
  • Be of good character, reputation and business integrity with adequate financial resources and credit to assume the responsibilities and privileges of membership; and
  • Acquire a NYBOT Membership in the Exchange.
In addition, all applicants for a NYBOT Membership must:
  • Secure 3,162 shares of ICE common stock to be held in a restricted account at Computershare, the Exchange's transfer agent.

Filing Procedures Applications

Applications must be completed on-line, downloaded, signed and sent with the appropriate fees and attachments to:

ICE Futures U.S., Inc.
attn: Member Services
55 East 52nd Street
40th Floor
New York, NY 10055

A non-refundable application fee in the amount of $750 must accompany the application for individual membership and initial application for a member firm. All fees should be in the form of a check or money order payable to ICE Futures U.S., Inc.

Applicants seeking floor trading privileges must submit:
  • Two recent 2"x2" photographs of the individual applicant in business attire and
  • Two different business references which are acceptable to the Membership Committee
If elected to membership, an initiation fee of $1,000 payable to ICE Futures U.S., Inc. must be submitted within 30 days after election to membership. Incomplete applications shall be kept on file for two (2) months; thereafter, the application shall be deemed withdrawn and the individual must submit a new application for membership.

Investigation of Applicants

The Member Services Department conducts an investigation of the business reputation and financial standing of all applicants to be presented to the ICE Futures U.S. The exchange must be satisfied that the character and financial condition of a prospective member meet the high standards set by the exchange. ICE Futures U.S., as it deems necessary and appropriate, may request additional information regarding an applicant.

Notice of Application

The name and address of all applicants (and their sponsors, in the case of floor trading privileges applicants) shall be sent to all members of ICE Futures U.S. at least ten days prior to consideration of the application by the exchange.

Appearance of the Applicant

Each applicant for floor trading privileges is required to appear personally before the exchange. Failure to appear when requested will be considered a withdrawal of the application.

Eligibility Requirements For Member Firm Privileges (Rule 2.09)

Any firm shall be eligible to receive Member Firm privileges provided that at least one of its general partners, directors, officers, members, executive employees or managers:
  1. Is a full-time employee of such firm or an Affiliated Firm thereof and is not employed by any other Person;
  2. Is a NYBOT Member in good standing; and
  3. Has and exercises authority over the affairs of the firm directly related to the firm's activities on the exchange, satisfactory to the Membership Committee.
The initial application for a member firm applying to receive membership privileges must be accompanied by a non-refundable check in the amount of $750 payable to ICE Futures U.S.

A NYBOT Member who is a special or limited partner in a firm may not confer any of the privileges of ICE Futures U.S. on such firm.

A NYBOT Member cannot confer Membership privileges upon more than one (1) firm at any one time.

NYBOT Memberships may be obtained by purchase or transfer as follows:

Purchase Through Membership Market

To purchase a Trading Membership in the Membership Market:
  • A bid must be submitted to the ICE Futures U.S. in writing by a member or member-elect.
  • The bidder must have 3,162 shares of ICE common stock in an unrestricted account at Computershare in order to place the bid.
  • Once the bid meets the offer, a sale will occur and the buyer must submit to the exchange an official teller's check or certified check payable to the seller within 10 days, unless otherwise instructed.
  • The buyer must notify Computershare to transfer the 3,162 shares of ICE common stock to the buyer's restricted account within 10 days.
  • Thereafter, the Trading Membership will be transferred to the buyer.

Membership Transfer

A NYBOT Membership may be transferred to the member-elect from another NYBOT Member. A Notice of Intention to Transfer and a Power of Attorney (S01/S02) must be completed and signed by the NYBOT Member transferring the NYBOT Membership. If the NYBOT Membership was purchased with the funds of a Member Firm, an ABC Agreement may be filed with the exchange. (An ABC Agreement (S06) is an agreement between a Member Firm and the conferring NYBOT Member, and gives certain ownership rights to the NYBOT Membership to the Member Firm.)

Applications

Member Firm

Transfer