55 East 52nd Street

New York, NY 10055

BY ELECTRONIC TRANSMISSION

Submission No. 23-163

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: Extension of FX Contract Member Fee 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 extending the FX Contract Member Fee Program (“Program”)1through December 

31, 2025, as set forth in Exhibit A. 

The Program was launched in May 2011 and was scheduled to terminate on December 31, 

2023. However, with the interbank market, the swap market and futures markets offered by other 

exchanges, competition in the FX space is significant. We believe that the continued operation of 

the Program is necessary in order to maintain volume and liquidity in IFUS’ FX product suite. As 

such, the Exchange is extending the Program through December 31, 2025; provided, however, that 

the Exchange in its sole discretion may cancel the Program at any time prior. The extension will 

become effective on January 1, 2024. All other Program terms remain unchanged. 

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 

1 See prior ICE Futures U.S. Submission No. 21-181. 
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 Program 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). 

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

New York Regional Office
EXHIBIT A

ICE Futures U.S.®, Inc. FX Contract Member Fee Program

The program offers IFUS Members and other entities that are members of a number of 

qualifying U.S. derivatives exchanges a rate of $0.60/side for all ICE Futures U.S. U.S. Dollar 

Index® (“USDX”) and Currency futures and options contracts (the “Program Contracts”) 

executed in that calendar month. The fee reduction is rebated to the participant’s clearing 

member, and passed on to the participant. Exchange for Physical (“EFP”) Exchange for Swaps 

(“EFS”) and Block Trade volume shall not be counted as volume for purposes of this program

and shall not be eligible for any discounted fees under this program.

Participant Name:_______________________________________________

Exchange Membership (check one)

CME CBOT CBOE

__ Corporate Member __ Corporate Member __ Corporate Member

NYMEX ISE IFUS

__ Corporate Member __ Corporate Member __ Corporate Member 

NYSE Euronext ICE Futures Europe CFE

__ Corporate Member __ Corporate Member __ Corporate Member

NFA Registration ID (if applicable): _________________________

Please identify the proprietary account you will be using for trading the Program Contracts 

(only trades in identified accounts will be eligible for program rates). 

ICE Futures U.S. Clearing Member Proprietary Trading Account Number

Clearing Member Contact: _________________________Phone:___________ email: 

_________________

From the effective date ICE Futures U.S. will charge participants in the FX Exchange Member 

Fee Program a rate of $0.60/contract side in the Program Contracts. If the participant has 

traded at least 500 lots of currency futures contracts in a month, ICE Futures U.S. will charge 

the participant a rate of $0.30 contract side in the Program Contracts. Only trades executed by 

the participants in their proprietary accounts are eligible for reduced fees. The difference 
between the rate charged participants in the Program and the standard non-member fees for 

transactions in the Program Contracts will be rebated to the Program participant through the 

participant’s clearing member. 

The FX Exchange Member Fee Program will continue through trade date December 31, 202[3]5

or until further notice, but in no case for a period to exceed three years. ICE Futures U.S. 

reserves the right to remove any participant from the Program at its discretion, and also to 

terminate or amend the program at any time.

As a qualified representative of the member firm applying to participate in the Program, I 

hereby certify that the information provided above is true and correct. I hereby acknowledge 

and understand that ICE Futures U.S., including but not limited to the Market Regulation 

Department, will be reviewing the trading in the proprietary account(s) listed above in order to 

determine whether the firm is continuing to meet the requirements of the Program and if the 

firm should continue or be renewed as a participant in the Member Fee Program. I authorize 

ICE Futures U.S. to contact my clearing member from time to time to confirm my continued 

eligibility for the program and authorize my clearing member to release all trading information 

related to the proprietary account(s) listed above to ICE Futures U.S.

Signature: _____________________________________________Date: __________

Printed Name: _________________________________________

Title: _________________________________________________

Firm:_________________________________________________

Telephone Number: _________________________________

E-Mail Address: ____________________________________

Please contact Matt Ryan (212 748-4116) with any questions about the program. The 

completed application should be returned to matt.ryan@theice.com.

.