ICE Futures Singapore issued Circular 26015 on Tuesday, launching a consultation on proposed changes to its Rules and Procedures relating to Responsible Individuals.
The consultation targets a role central to member trading access and supervision on the exchange. Under the current ICE Futures Singapore Rules, a Responsible Individual is someone registered by a member with the exchange to conduct business on the ICE Platform on that member’s behalf.
The exchange’s Trading Procedures bar members from entering orders, making trades, or performing a supervisory role on the platform except through individuals registered as Responsible Individuals. Those individuals must be adequately trained, fully conversant with the exchange’s rules, and willing to disclose the source of all orders to the exchange. Members, in turn, must keep the exchange informed of anything concerning a Responsible Individual that might reasonably require disclosure.
The circular, distributed via the exchange’s circulars channel, included three attachments. The notice excerpt does not contain the proposed amendment text or an implementation date.
Under the exchange’s rules, amendments may be announced by circular and take effect at a time determined by the exchange. The rules also allow, but do not require, member consultation on proposed changes.
