ICE Futures U.S. Announces New Incentive Program for Chicago Exchange Members to Trade Fast-Growing Russell Index Products
Exchange News from Automated Trader Magazine
May 6th, 2008 - ICE Futures U.S.(TM) today announced an incentive program for the Russell 2000 Index mini futures contract for members of Chicago exchanges in conjunction with growing participation in the Russell Index futures markets on ICE.
ICE Futures U.S.(TM) today announced an incentive program for the Russell 2000 Index mini futures contract for members of Chicago exchanges, in conjunction with growing participation in the Russell Index futures markets on ICE.
All exchange members of CME (including 106H members), CBOT and CBOE, as well as NYMEX, including individual, clearing and corporate members, may trade the "mini size" Russell Index futures contracts at the ICE Futures U.S. member rate of $0.30 per side, inclusive of clearing and execution fees. The program, which is now in effect, includes the Russell 2000(R) mini and the Russell 1000(R) mini futures and options on futures contracts.
All contract months and calendar spreads are offered in electronic markets on ICE. In addition, all major quote vendors offer real-time market data for ICE's Russell Index futures and options on futures.
In March, ICE announced a cross-margining program between ICE Clear U.S. and the Options Clearing Corporation (OCC). Cross-margining allows qualified market participants to benefit from lower margins for risk-reducing positions in related markets.
ICE Futures U.S. offers block trading for all Russell Index contracts, as well as "trade-at-settlement" (TAS) transactions. TAS allows participants to enter into a transaction where they will receive the settlement price, or a price that is one to two ticks above or below the settlement price. ICE Futures U.S. is the only U.S. exchange to offer TAS trading in equity index futures contracts.
ICE Futures U.S. offers futures and options on futures based on the Russell 1000 and Russell 2000 Indexes, in both mini and full-size contracts, which are transitioning exclusively to ICE. In June 2007, ICE and Russell Investments entered into an exclusive licensing agreement for the U.S. Russell Index futures complex.
In June, ICE will hold its first event in its Equity Index Forum speaker series, which will feature Barton Biggs, author of Wealth, War & Wisdom.