ICE NGX acts as the central counterparty for all cleared transactions, acting as the buyer to every seller, and the seller to every buyer.

This provides full cycle anonymity for virtually all transactions and introduces a neutral third party that ensures performance on both sides. There is no mutualized or legal relationship amongst counterparties and all collateral provided by or for a Contracting Party is used only for that Contracting Party and its Contracting Party Affiliates, and is segregated from the assets of ICE NGX and each other Contracting Party except its Contracting Party Affiliates.

ICE NGX does not currently offer customer clearing and Contracting Party collateral is therefore not subject to the CFTC requirements in respect of segregation of customer funds.

ICE NGX is committed to ensuring the security and integrity of the clearing operation and has a robust risk management plan to identify and manage risks to the ongoing operation of the clearinghouse. ICE NGX does not enter into transactions nor take positions in energy products for any reason other than to provide clearing services.