ICE to Turn OTC Swaps Into Futures Contracts

摘要

Atlanta-based InterContinental Exchange (ICE) has been quick to use concerns about the cost of new US swaps market regulation for its competitive advantage, announcing last week that it will convert all of its cleared over-thecounter (OTC) energy swaps — including 18 separate jet fuel products — into equivalent futures contracts from next January. In a notice to customers Jul. 30, ICE President Charles Vice said, “we have conducted extensive reviews and analysis of these laws and regulations to determine how these rules will affect swaps participants across the US, Europe, and Asia and have also received substantial input from many ICE Participants. We have concluded that, once implemented, these laws and regulations are likely to increase the cost and complexity for swaps market participants relative to futures markets participants.”