BY ELECTRONIC TRANSMISSION

Submission No. 23-100

June 16, 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: Amendment to the IFC Liquidity Provider Volume 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, an amendment 

extending the term of the IFC Liquidity Provider Volume Incentive Program (“Program”), as set 

forth in Exhibit A. The Exchange believes that the Program, which was launched on July 30, 2018

(see ICE Futures U.S. Submission No. 18-347) with the listing of Canola Futures and Options 

Contracts has helped increase liquidity and volume in the product. As such, the Exchange is 

extending the Program, which was set to expire on June 30, 2023, for an additional two-year term. 

All other terms remain unchanged. 

The Exchange certifies that the amendment to the Program, which will become effective 

on July 3, 2023, complies with the requirements of the Commodity Exchange Act and the rules 

and regulations promulgated thereunder. In particular, the Program continues to comply 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 amendment to the 

Program and further certifies that, concurrent with this filing, a redacted copy of this submission 

(consistent with the petition for Confidential Treatment filed contemporaneously with the 

Commission) was posted on the Exchange’s website at https://www.theice.com/futuresus/regulation#rule-filings
If you have any questions or need further information, please contact me at 212-748-4021 

or at jason.fusco@ice.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. IFC Liquidity Provider Volume Incentive Program

Program Purpose

The Program is intended to incentivize participants to increase their proprietary trading volumes in 

covered products; this increased volume will benefit all participants in the marketplace.

Product Scope

Canola futures and option contracts.

Eligible Participants

[REDACTED]

Program Term

The Program term shall end on June 30, 202[3]5, 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

Participants are required to provide the Exchange with information acceptable to the Exchange detailing 

Participants’ trading activity under the program, and the Exchange may require an additional third party 

verification report. Participant may receive the stated fee discount via a rebate that will be paid to 

Participant’s Clearing Member on a monthly basis. Such rebate will be paid after the Participant and/or 

Clearing Member have provided to the Exchange and accounting of Participant’s executed program 

volume and demonstrated that a higher fee has been charged. All rebate requests must be provided to 

ICE Futures U.S. audit personnel by the 7th business day of the subsequent calendar month.

Program Incentives

[REDACTED]

Monitoring and Termination of Status

The Exchange shall monitor trading activity and Participants performance and shall retain the right to 

revoke Participants’ status if it concludes from review that a Program Participant has failed to meet its 

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