Financial Resources
The following details the size and composition of the financial resource
package available in the event of an ICE Clear Credit clearing participant
default.
-
ICE Clear Credit's current margin on deposit is $46,388,000,000. In the
event of a default, only the margin of the defaulting clearing participant
and defaulting customer (if applicable, and subject to segregation laws)
may be used for default management
-
In the event the resources of a defaulting clearing participant are
insufficient to cure the default, the below financial resources are
available to ICE Clear Credit
|
ICE Clear Credit (Designated Corporate) Contributions
|
$50,000,000 |
|
ICE Clear Credit Clearing Participant Default Insurance
|
$50,000,000 |
|
Clearing Participant Required Guaranty Fund Contributions
|
$2,907,000,000 |
| Minimum Total Assets Available |
$3,007,000,000 |
-
ICE Clear Credit's financial resources additionally include assessment
powers as detailed in ICE Clear Credit Rule 803(b)
-
The above listed CDS Initial Margin amount represents the U.S. Dollar
value on deposit, including excess collateral, after any applicable
haircuts
-
The above listed Guaranty Fund amount represents the U.S. Dollar
requirement and does not include any excess collateral posted
-
All figures above are current as of September 30, 2020 and are rounded to
the nearest $1 million
Comment Letters & Testimony