ICE NGX Canada Inc.

Suite 2610, 225 – 6

th Avenue SW

Calgary, AB

Canada T2P 1N2

ngx.com

ice.com

September 21, 2022

VIA CFTC PORTAL

Christopher J. Kirkpatrick

Office of the Secretariat

Commodity Futures Trading Commission

Three Lafayette Centre

1155 21st St., N.W.

Washington, D.C. 20581

Re: Amendment to ICE NGX Canada Inc. Rules - Submission Pursuant to Section 

5c(c)(1) of the Commodity Exchange Act and CFTC Regulation § 40.6(a): CP 

Information Update (CPA Amendments)

Dear Mr. Kirkpatrick:

Pursuant to Section 5c(c)(1) of the Commodity Exchange Act, as amended, (“Act”) and 

Commodity Futures Trading Commission (“Commission”) Regulation 40.6(a), ICE NGX Canada 

Inc. (“ICE NGX”) is submitting this self-certification relating to changes to the ICE NGX Contracting 

Party Agreement (“CPA”). The CPA functions as the rulebook for ICE NGX’s exchange and 

clearinghouse operations and is a “rule” as that term is defined under Commission Regulation 

40.1(i). 

ICE NGX intends to implement the amendments on October 24, 2022. 

1. Overview 

ICE NGX is making this submission to facilitate enhancements to its program for updating 

Contracting Party information. 

The text of the amended CPA provisions is attached as the Appendix to this letter.

2. Details of Rule Changes

ICE NGX is enhancing its program for updating information relating to its Contracting Parties. 

The Amendments will facilitate the implementation of the enhanced program for updating 

Contracting Party information, by requiring each Contracting Party to provide certain information 

upon request by ICE NGX. Contracting Party information that will be requested includes 

information in respects legal status, affiliations, operations and contact names and information for 

relevant roles at the Contracting Party.

The amendments also add a failure to provide information upon request to the list of violations for 

which ICE NGX may impose a summary sanction. A corresponding change is also being made 

to the Summary Sanctions Schedule. In conjunction with the Amendments, and as a courtesy to 

Commission staff, we are providing the text of the amended Summary Sanctions Schedule. The 
 

ICE NGX Canada Inc.

Suite 2610, 225 – 6

th Avenue SW

Calgary, AB

Canada T2P 1N2

ngx.com

ice.com

amended Summary Sanctions Schedule will be published on the ICE NGX website concurrently 

with the implementation of the Amendments.

3. Compliance with Core Principles

ICE NGX reviewed the Amendments and determined that they comply with the rules and 

regulations of the Commission. In this regard, ICE NGX reviewed the derivatives clearing 

organization (“DCO”) core principles (each a “Core Principle”) and determined that the 

Amendments are potentially relevant to the following Core Principles and applicable regulations 

of the Commission thereunder.

Compliance (Core Principle A): The Amendments are consistent with Core Principle A -

Compliance and Commission Regulation 39.10, as the Amendments clarify and enhance ICE 

NGX’s policies and procedures for complying with Commission regulations and internal policies.

Participant and Product Eligibility (Core Principle C): The Amendments are consistent with Core 

Principle C - Participant and Product Eligibility and Commission Regulation § 39.12(a)(4), as the 

Amendments enhance ICE NGX’s monitoring of participants.

Rule Enforcement (Core Principle H): The Amendment are consistent with Core Principle H - Rule 

Enforcement and Commission Regulation § 39.17(a)(2), as the Amendments specify ICE NGX’s 

authority to impose summary sanctions for a failure to provide information to ICE NGX upon 

request.

Public Information (Core Principle L): The Amendments facilitate ICE NGX’s compliance with 

Core Principle L and Commission Regulation 39.21(a), as the Amendments implement the 

requirements in a clear manner in ICE NGX’s comprehensive rulebook (i.e., CPA) and procedures 

(i.e., Summary Sanctions Schedule), both of which will be publicly disclosed on the ICE NGX 

website upon implementation of the Amendments.

4. Certifications

ICE NGX certifies that the proposed Amendments discussed in this submission comply with the 

Commodity Exchange Act, including the Core Principles and the Regulations of the Commission 

thereunder. ICE NGX is not aware of opposing views expressed regarding the Amendments. ICE 

NGX further certifies that, concurrent with this filing, a copy of this submission was posted to ICE 

NGX’s website.

Yours truly,

__________________________

By: Greg Abbott

Title: President & COO 

Date: September 21, 2022
 

ICE NGX Canada Inc.

Suite 2610, 225 – 6

th Avenue SW

Calgary, AB

Canada T2P 1N2

ngx.com

ice.com

APPENDIX

AMENDMENTS TO THE ICE NGX CONTRACTING PARTY AGREEMENT

TERMS AND CONDITIONS

[Note: Insertions are underscored; deletions are struck through.]

ARTICLE 3 - GENERAL

3.11 Required Information and Required Notices to Exchange 

a. Required Information -

...

(iii) Periodic Contracting Party Information Update - On request of Exchange, the 

Contracting Party will provide Exchange with current information in respect of the 

Contracting Party’s legal status, affiliations, operations and contact names and 

information, all in the form and timing required by Exchange. 

[Note: Subsequent subsections of section 3.11 will be re-numbered to reflect the insertion shown 

above.]

ARTICLE 6 - REGULATORY AND COMPLIANCE

6.5 Summary Sanctions

...

b. Summary Sanction - The Chief Compliance Officer may impose a summary sanction on 

a Contracting Party, in accordance with Exchange’s stated Summary Sanctions 

schedule and in an amount not to exceed $5,000 per violations, for 

(i) failing to make timely, accurate and full payment of an Invoice to Exchange in 

accordance with this Agreement; 

(ii) failing to make timely provision of Eligible Collateral Support in accordance with 

Schedule “C” - Risk Management of this Agreement; 

(iii) failing to make timely and accurate submissions to the Exchange of information, 

notices or financial statements as required under any provision of this 

Agreement; 

(iv) failing to maintain a current written risk management policy that address the risks 

the Contracting Party may pose to Exchange, as required under this Agreement; 

and 
 

ICE NGX Canada Inc.

Suite 2610, 225 – 6

th Avenue SW

Calgary, AB

Canada T2P 1N2

ngx.com

ice.com

(v) failing to make timely payment to Exchange of any fee, penalty or other charge in 

accordance with this Agreement.

...