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Self-Regulatory Organizations; ICE Clear Credit LLC; Notice of Filing of Proposed Rule Change Relating to the ICE Clear Credit Recovery Plan and ICE Clear Credit Wind-Down Plan
Plain English Summary
ICE Clear Credit LLC has proposed changes to its Recovery Plan and Wind-Down Plan. These changes will not lead to a significant reduction in employee numbers, as another clearing service will continue normal operations. Additionally, they are updating some terminology in their insurance coverage table to remove a duplicate entry for clarity. Insurance agents should review these updates to understand how they may impact their operations and client communications.
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clearing service would not trigger a significant reduction in ICC's employee headcount because the other clearing service would continue business-as-usual operations. ICC further provides a minor terminology update to improve clarity in the <span class="match">insurance</span> coverage table by removing a duplicate entry when outlining the <span class="match">insurance</span> coverage maintained by Intercontinental Exchange, Inc. (“ICE Inc.)”.
26
See
supra notes 6 and 14.
27
See
Treasury Rule 812.
ICC proposes to amend Section IX. As the CDS and Treasury Risk Committees