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Comment for Proposed Rule 75 FR 76573

  • From: Ex Parte Communication
    Organization(s):
    IntercontinentalExchange (ICE)

    Comment No: 31949
    Date: 2/16/2011

    Comment Text:

    Meeting with ICE

    Wednesday, February 16, 2011

    Memo from
    Adriance, Riva

    CFTC Staff :
    Chairman Gary Gensler
    Eric Juzenas
    Megan Sperling
    Timothy Karpoff
    Dan Berkovitz
    Riva Adriance
    David Taylor
    Irina Leonova
    John Lawton

    External Attendees :
    Trabue Bland
    Chuck Vice
    Thomas Farley
    Alex Albert

    Additional Information :
    ICE discussed the timing of the clearing and trading mandates.  ICE suggested that swaps clearing should be based upon an open offer model, not novation.  ICE also discussed the need for pre-trade clearing member level risk checks for Swap Execution Facilities (SEF) as in the proposal for DCMs.  ICE had asked questions about how the Request for Quote (RFQ) provisions of the SEF rulemaking worked.  ICE also and discussed the timing of implementing swap data repositories.  CFTC staff and ICE also discussed the definitions of swap dealer and major swap participants as those terms relate to the energy markets.

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