ICE Swap Trade is a Swap Execution Facility pursuant to the Dodd–Frank Act , as amended, and as such is regulated by the U.S. Commodity Futures Trading Commission (CFTC).
The SEF is managed by or subject to the direction of the Board and such officers (“Officers”) as are appointed by the Board, in each case in accordance with the 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 the SEF and any Officers, subject to Applicable Law. Qualifications for Managers will be as set forth in the Operating Agreement and hereunder. No Director may be subject to Statutory Disqualification.
Conflict of Interest Rules - (see Rules 207 and 209)
Code of Business Conduct and Ethics
The Regulatory Oversight Committee (“ROC”) shall consist of three Managers, all of which shall be Public Directors (Managers). The ROC shall report to the Board. The ROC shall oversee the regulatory program of the SEF 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.