ICE Futures U.S. Inc.

55 East 52nd Street

40

th Floor

New York, NY 10055

Tel: +1 212.748.4000 I Fax: +1 212.748.4005

ice.com ICE Futures US, Inc. a designated contract market under 

the Commodity Exchange Act, as amended.

Submission No. 22-158

September 19, 2022

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: Amendment to ICE Futures U.S. Rules 4.25 (Trading Hours)

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 Exchange Rules 4.25 which are 

set forth in Exhibit A. The amendments codify the existing daily settlement period for Mortgage 

Index Futures Contracts in Rule 4.25(b). The amendments also add language which specifies 

that the Trading Session on the Last Trading Day (“LTD”) for an expiring futures or options 

contract will end at the same time as the regular Trading Session, or as otherwise specified in 

terms and conditions for such product, for any products not expressly listed in paragraphs (c) and 

(d) of the Rule. Note, the time when trading ends on LTD will not change for any product as a 

result of these amendments. 

The Exchange certifies that the amendments to Rules 4.25, which will become effective 

on October 3, 2022, comply with the requirements of the Act and the rules and 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 to Rules 4.25 will be enforced by the Exchange. 

AVAILABILITY OF INFORMATION

As required by Core Principle 7, the text of amended Rules 4.25 shall be codified in the 

Exchange’s rules 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.
 

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.
 

EXHIBIT A

Rule 4.25. Trading Hours

(a) The ETS trading hours shall be as specified by the Exchange from time to time. All times specified 

in this Rule for Energy Contracts shall refer to the prevailing time in New York City on the relevant day and 

shall be referred to as Eastern Prevailing Time or “EPT”.

(b) The time period during which daily Settlement Prices shall be determined is:

*** 

(xiii) for the NYSE and ICE Index Futures Contracts, 3:59 PM and 4:00 PM; [and]

(xiv) for Bitcoin Futures, 4:58 PM and 5:00 PM; and

(xv) for Mortgage Index Futures Contracts, 2:48PM to 3:00PM.

(c) On the Last Trading Day for each Exchange Futures Contract, the Trading Session will end: 

***

(xiii) for all other Exchange Futures Contracts, [at the time specified in the chapter of the Rules 

setting forth the terms and conditions of such contract] unless otherwise specified in Rules setting 

forth the terms and conditions for such contract, at the same time as the regular Trading Session.

(d) On the Last Trading Day for each Exchange Options Contracts, the Trading Session will end at the 

following times:

***

(vii) for all other Exchange Contracts,[ at the time specified in the chapter of the Rules setting 

forth the terms and conditions of such contract] unless otherwise specified in Rules setting forth 

the terms and conditions for such contract, at the same time as the regular Trading Session.