Release: 5430-08

For Release: January 3, 2008

CFTC Extends Public Comment Period on Exemption Requests from ICE Clear and ICE Futures Involving Certain Coffee, Sugar, and Cocoa Swaps

Washington, DC – The Commodity Futures Trading Commission (CFTC) is extending the public comment period on two requests submitted by ICE Clear U.S., Inc. (ICE Clear) and one request submitted by ICE Futures U.S. (ICE Futures).

The comment periods for these requests were set to expire on January 7, 2008, but based on a public request for an extension, the Commission is extending the comment period for an additional 30 days. As a result, comments on these requests must now be received on or before February 6, 2008.

Specifically, ICE Clear requested that the Commission issue an order under Section 4(c) of the Commodity Exchange Act (CEA) that would permit qualified participants who enter into OTC swaps involving coffee, sugar, or cocoa to submit them to ICE Clear for clearing. ICE Clear also requested that the Commission issue an order under Section 4d of the CEA that would permit ICE Clear and futures commission merchants clearing these contracts through ICE Clear to commingle customer funds used to margin, secure, or guarantee these contracts with other funds held in segregated accounts. ICE Futures requested that the Commission issue an order under Section 4(c) of the CEA that would result in certain ICE Futures floor brokers and floor traders who trade those specified OTC swap transactions for their own accounts being considered Eligible Swap Participants.

The extension notice will be published shortly in the Federal Register. Comments may be submitted electronically to, or by any other means listed in the attached Notice. All comments received will be posted on the Commission’s website.

Media Contacts
Ianthe Zabel

R. David Gary

Last Updated: January 2, 2008