As a catalyst in the development of transparent, global markets, ICE works proactively to maintain the confidence of participants and the integrity of its markets.
ICE Swap Trade, LLC operates a Swap Execution Facility registered with the US Commodity Futures Trading Commission for the trading of commodities contracts, to include energy and index credit default swaps and a Security-Based Swap Execution Facility registered with the US Securities and Exchange Commission for the trading of single name credit default swaps.
The Market Supervision team is responsible for the management, monitoring and regulation of all trading activity that occurs on the Swap Execution Facility and Security-Based Swap Execution Facility operated by ICE Swap Trade.
ICE Swap Trade, LLC is managed by or subject to the direction of the Board and such officers as are appointed by the Board, in each case in accordance with the ICE Swap Trade’s Operating Agreement. Without limiting the rights, powers, privileges and obligations of the Board as set forth in the Operating Agreement, the Board has the power to review, and to approve, modify, suspend or overrule, any and all decisions of committees of ICE Swap Trade and its officers, subject to Applicable Law. Qualifications for ICE Swap Trade’s Board members is set forth in the Operating Agreement and hereunder. No Director may be subject to Statutory Disqualification.
See SEF Conflict of Interest Rules 207 and 209
See SBSEF Conflict of Interest Rule 205
Global Code of Business Conduct
The Regulatory Oversight Committee (“ROC”) shall consist of two Managers, all of which shall be Public/Independent Directors (Managers). The ROC shall report to the Board. The ROC shall oversee the regulatory program of ICE Swap Trade on behalf of the Board. The Board shall delegate sufficient authority, dedicate sufficient resources and allow sufficient time for the ROC to fulfill its mandate.