55 East 52nd Street

New York, NY 10055

BY ELECTRONIC TRANSMISSION

Submission No. 23-162

December 14, 2023

Mr. Christopher J. Kirkpatrick

Secretary of the Commission

Office of the Secretariat

Commodity Futures Trading Commission

Three Lafayette Centre

1155 21st Street, NW

Washington, DC 20581

Re: Amendments to the Commercial Participant Open Interest Incentive Program 

Submission Pursuant to Section 5c(c)(1) of the Act and Regulation 40.6

Dear Mr. Kirkpatrick:

Pursuant to Commodity Futures Trading Commission (“CFTC”) Regulation 40.6(a), ICE 

Futures U.S., Inc. (“IFUS” or “Exchange”) hereby submits by written certification, notice that the 

Exchange is amending the Power and Gas Commercial Participant Open Interest Incentive 

Program (“Program”) to extend the term through January 1, 2026, as set forth in Exhibit A. 

The Exchange certifies that the Program complies with the requirements of the Commodity 

Exchange Act and the rules and regulations promulgated thereunder. In particular, the Program

complies with Core Principle 4 (Monitoring of Trading), Core Principle 9 (Execution of 

Transactions) and Core Principle 12 (Protection of Market Participants). The Program does not 

impact order execution priority or otherwise give participants any execution preference or 

advantage. In addition, the Exchange’s Market Regulation Department actively monitors for 

trading abuses using electronic exception reports and will take appropriate action against any 

participants engaging in market abuses. 

The Exchange is not aware of any opposing views with regard to the amended Program, 

which will become effective on January 1, 2024, and further certifies that, concurrent with this 

filing, a redacted copy of this submission was posted on the Exchange’s website at 

(https://www.theice.com/futures-us/regulation#rule-filings). 
If you have any questions or need further information, please contact me at 212-748-4021 

or at jason.fusco@theice.com.

Sincerely,

Jason V. Fusco

Assistant General Counsel

Market Regulation

Enc.

cc: Division of Market Oversight
EXHIBIT 1

[PARAGRAPH REDACTED]

ICE FUTURES U.S. INC. 

COMMERCIAL PARTICIPANT OPEN INTEREST INCENTIVE PROGRAM

Program Purpose

The purpose of the Program is to facilitate and incentivize the management of risk associated with 

commercial natural gas and power cash/physical markets using ICE Futures U.S. futures and options 

contracts. 

Product Scope

All ICE Futures U.S. Financial Power and Financial Gas Futures and Options (hereinafter “Eligible 

Contracts”) 

Eligible Participants

[PARAGRAPH REDACTED]

Program Term

The initial term of the Program shall end on January 1, 20[24]26, unless extended by the Exchange. The 

Exchange reserves the right to amend or end the Program and/or to terminate any Participant at any 

time prior to that date.

Obligations 

[PARAGRAPH REDACTED]

Program Incentives

[PARAGRAPH REDACTED]

Monitoring and Termination of Status

The Exchange shall monitor trading activity and Participant CMs' performance and shall retain the right 

to revoke a Participant CM' status if it concludes from review that the Participant CM has failed to meet 

its obligations or no longer meets the eligibility requirements of this Program.