ICE Futures U.S. Inc.

55 East 52nd Street

40th 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.

BY ELECTRONIC TRANSMISSION

Submission No. 23-101

June 16, 2023

Commodity Futures Trading Commission

Three Lafayette Centre

1155 21st Street, NW

Washington, DC 20581

Re: Amendment to Arb Blocks Liquidity Provider 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 Arb Blocks Liquidity Provider Program (“Program”), as set forth in 

Exhibit A. The Exchange believes that the Program, which was set to expire on June 30, 2023, 

has helped increase liquidity in the sugar and coffee arbitrage markets. As such, the Program is 

being extended through June 30, 2025. 

The Exchange certifies that the amendment to the Program 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, which will become effective on July 3, 2023, 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/futures-us/regulation#rule-filings
ICE Futures U.S. Inc.

55 East 52nd Street

40th 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.

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
ICE Futures U.S. Inc.

55 East 52nd Street

40th 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.

EXHIBIT A 

ICE Futures U.S. Arb Blocks Liquidity Provider Program

Program Purpose

The purpose of the Program is to incentivize participants to increase liquidity in the Sugar No. 11/White 

Sugar and the Arabica/Robusta arbitrage markets.

Product Scope

Sugar No. 11 and Coffee “C” futures.

Eligible Participants

IFUS may designate up to five participants in the Program, who may be Exchange members or nonmembers. In order to be considered for selection into the Program, potential participants must have 

maintained a sufficient monthly average volume relative to the Monthly Program Volume threshold in 

Program contracts over the past three months at the time of application. Notwithstanding the foregoing 

the Exchange may add or subtract from the aforementioned criteria as it deems necessary.

Program Term

The Program 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. 

Program Incentives

[PARAGRAPH 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.