ICE Clear Europe is a recognised clearing house under section 288 of the Financial Services and Markets Act 2000 supervised by the Bank of England. ICE Clear Europe provides clearing services for futures and options contracts traded on ICE Futures Europe, ICE Endex, ICE Futures U.S. Energy Division and the NYSE Liffe London derivatives market. ICE Clear Europe also received the settlement finality designation (SFD) by the FSA under the Financial Markets and Insolvency (Settlement Finality) Regulations 1999, which enhances the systemic risk protection provided to clearing members in the event of a clearing counterparty default. Under SFD, payment instructions can be protected from EU administrators or liquidators of insolvent firms. Designation means that ICE Clear Europe's system is now designated under the EU's Settlement Finality Directive. The Clearing House is also: (i) recognised as an inter-bank payment system under the Banking Act 2009 and regulated by the Bank of England, and (ii) designated as a Derivatives Clearing Organisation by the U.S. Commodity Futures Trading Commission.
The clearing house also provides clearing services for European credit default swaps (CDS) index contracts. In addition to Bank of England oversight, ICE Clear Europe's CDS clearing services operates under an exemption from the U.S. Securities and Exchange Commission (SEC).