Submission No. 23-119

September 5, 2023

Mr. Christopher J. Kirkpatrick

Office of the Secretariat

Commodity Futures Trading Commission

Three Lafayette Centre

1155 21st Street, NW

Washington, DC 20581

Re: Amendments to Rules 4.08 and 6.50

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

Dear Mr. Kirkpatrick:

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

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

U.S., Inc. (“IFUS” or “Exchange”) hereby certifies the amendments to Rules 4.08 and 6.50 set 

forth in Exhibit A. The amendments expressly require markets participants with Direct Access to 

the electronic trading system (“ETS”) to execute the agreements required by the Exchange or its 

affiliates relating to such access and the Exchange trade data which flows through such access.1 

The amendments to Rules 4.08 and 6.50 codify the existing practices and make no changes to 

the substance of either Rule. 

The Exchange certifies that the amendments, which will become effective on September 

20, 2023, comply with the requirements of the Act and the CFTC Regulations promulgated 

thereunder. The Exchange has reviewed the designated contract market core principles ("Core 

Principles") as set forth in the Act and has determined that the amendments comply with the 

following relevant Core Principles:

COMPLIANCE WITH RULES

The amendments will be enforced by the Exchange in accordance with Core Principle 2. 

AVAILABILITY OF INFORMATION

As required by Core Principle 7, the text of the amended Rules will be codified in the 

Exchange’s Rulebook and made available on the Exchange’s Website. 

The Exchange is not aware of any opposing views with regard to the amendments and 

further certifies that, concurrent with this filing, a copy of this submission was posted on the 

Exchange’s website at https://www.theice.com/futures-us/regulation#rule-filings

1 The ETS utilized by ICE Futures U.S. is operated by the Exchange’s parent entity. In addition, Exchange trade data on the ETS 

is distributed by a corporate affiliate. Accordingly, participants are required to enter into agreements with these affiliates 

regarding such services prior to being granted Direct Access to ICE Futures U.S.’ markets. 
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

Enc.

cc: Division of Market Oversight

New York Regional Office
EXHIBIT A

Rule 4.08. Access to ETS

(a) All Clearing Members are eligible for Direct Access to the ETS upon execution of a Participant 

Agreement and such other agreements required by the Exchange or its affiliates. 

(b) A Clearing Member may authorize any eligible Person to have Direct Access to the ETS. A Person 

is eligible for Direct Access to the ETS upon execution of a Participant Agreement and such other 

agreements required by the Exchange or its affiliates . 

[REMAINDER OF RULE UNCHANGED]

Rule 6.50. Disclosure of Information; Trade Data and Personal Data

(a)The Exchange shall not disclose any information regarding the financial condition or any 

Transaction, Positions, or market operations of any Member or Customer to any Person, except: 

(i) to any committee, officer, employee or agent of the Exchange authorized to receive such information 

within the scope of its or his duties; 

(ii) to any Clearing Organization;

(iii) to any third party performing a service for the Exchange, provided that such party has executed a 

confidentiality and non-disclosure agreement in a form approved by the Exchange;

(iv) to any duly authorized representative of the CFTC lawfully requesting the same; 

(v) as may be required by legal process or by law;

(vi) as the Exchange may deem necessary or appropriate in connection with any litigation affecting it 

or the Clearing Organization; 

(vii) in a manner in which the Member or Customer consents to such disclosure; 

(viii) pursuant to the terms of an information sharing agreement with a regulatory or self-regulatory 

body which has been approved by the President; and

(ix) to any other Person, if, and to the extent that the Board, from time to time, may deem appropriate.

(b) Subject to each market participant’s rights with respect to its own data, the Exchange shall own all 

rights, title and interest, database rights and trade secret rights in and to all trade data and related information 

submitted in connection with trading on the Exchange and which is not collected or received for the purpose 

of fulfilling regulatory obligations of the Exchange. The Exchange has the exclusive right to use, distribute, 

sub-license, disclose and sell anonymized trade data and derivative works in any manner, media and 

jurisdiction. Market participants shall not redistribute trade data or derivative works based thereon unless 

licensed by the Exchange. The restriction on redistribution shall not apply to a market participant’s own 

data. Market participants with Direct Access to the ETS pursuant to Rule 4.08 shall execute such 

agreements as may be required by the Exchange or its affiliates prior to receiving Exchange trade data. 
(c) Proprietary data or personal information collected or received by the Exchange for the purpose of 

fulfilling regulatory obligations (“Regulatory Data”) shall not be disclosed publicly other than on an 

aggregated or anonymized basis, or in a manner that does not directly or indirectly identify any market 

participant who has submitted such data. Regulatory Data may not be used by the Exchange for business 

and marketing purposes unless the market participant has clearly consented to the use of such data in such 

manner. Access to the Exchange shall not be conditioned upon a market participant’s consent to the use of 

Regulatory Data for business or marketing purposes. Nothing in this Rule shall preclude the Exchange 

from disclosing Regulatory Data pursuant to paragraph (a) above. 

(d) Treatment of Personal Data relating to Individuals in the European Union:

(i) For the purpose of this paragraph, the terms "Process" (and derivations thereof), "Personal Data", 

"Data Subject" and "Controller" shall have the meaning given to such terms in the General Data Protection 

Regulation (EU) 2016/679 and the term “Member” includes market participants, whether or not they have 

become members of the Exchange. 

(ii) For the purpose of this paragraph, the term “Member/User Privacy Notice” means the document 

setting forth how the Exchange will use any Personal Data (as defined in the General Data Protection 

Regulation (EU) 2016/679) received concerning Members, and other users. 

(iii) The Exchange is a Controller with respect to Personal Data provided to it by Members, their clients 

and representatives and may collect and use Personal Data for the purposes of fulfilling contractual 

obligations and operating in accordance with Exchange Rules, CFTC regulations and the Act. 

(iv) Each Member shall ensure that: in respect of any Personal Data that it provides to the Exchange it 

has a lawful basis for processing the relevant Personal Data in this manner. 

(v) Each Member and the Exchange: 

(A) acknowledges that the recording of conversations between the trading, clearing and other 

relevant personnel of the Member and/or its affiliates and the Exchange in connection with 

the Rules and any Contract, potential Contract, or Transaction will take place to the extent 

permitted or required under applicable laws; 

(B) agrees, to the extent permitted by applicable law, that recordings may be submitted as 

evidence in any dispute; 

(C) acknowledges that the other provisions of this paragraph shall apply to any such recordings 

made by the Exchange; and

(D) consents to such disclosures being made in accordance with Exchange Rules and as required 

under applicable laws including, without limitation, CFTC regulations and the Act.