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ICE Clear ECS User Guide
Version 7.2
10 September 2014
This material may not be reproduced or redistributed in whole or in part without the express,
prior written consent of IntercontinentalExchange, Inc.
ã Copyright IntercontinentalExchange, Inc. 2011. All Rights Reserved.
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Date
Version
18 October
2012
10 January
2013
1.0
Description
Initial draft -
6.4
Updated for Platform 6.4 release
13 August 2013
6.5
Updated for 6.5.1 Release – Added Download Reports
sections (updates in red)
19 September
2013
7.0
Updated for the IC7 Platform release.
(Updates in red)
10 September
2014
7.2
Updated ICEU Operations UCP Transition
ICE Clear ECS User Guide
Page 2 of 49
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1 Introduction ..................................................................................................................................................................... 4
2
Accessing ECS ............................................................................................................................................................. 4
3
Position Tab ............................................................................................................................................................... 5
3.1
View Positions Operation ..................................................................................................................................................... 5
3.2
Duplicate Positions (ICUS only) ........................................................................................................................................... 15
3.3
Currency Deliveries ............................................................................................................................................................ 16
3.4
Submit Morning Adj ........................................................................................................................................................... 16
3.5
Submit PCS ......................................................................................................................................................................... 18
3.6
Re-Opening Positions ......................................................................................................................................................... 21
3.7
Option Exercise & Abandonments ...................................................................................................................................... 23
3.8
Delivery Notices ................................................................................................................................................................. 26
4 Reports .......................................................................................................................................................................... 27
4.1
Download Reports.............................................................................................................................................................. 27
4.2
Today’s Messages............................................................................................................................................................... 28
4.3
Prior Day’s Messages .......................................................................................................................................................... 29
4.4
PCS Submission Report ....................................................................................................................................................... 29
4.5
Manual PCS Audit Report ................................................................................................................................................... 31
4.6
Manual Options instructions Report ................................................................................................................................... 31
4.7
Manual Delivery instructions Report .................................................................................................................................. 32
4.8
Option Exercise Abandon Report ........................................................................................................................................ 32
5 Banking.......................................................................................................................................................................... 31
6
7
5.1
Create a new deposit.......................................................................................................................................................... 32
5.2
Withdrawing an Asset ........................................................................................................................................................ 35
Profile Management ................................................................................................................................................ 36
6.1
Member Contact ................................................................................................................................................................ 36
6.2
User Contact ...................................................................................................................................................................... 36
6.3
Change Password (ICEU only) ............................................................................................................................................. 37
6.4
Auto Release ...................................................................................................................................................................... 37
6.5
Settlement Instructions (NYSE:Liffe) ................................................................................................................................... 38
6.6
Email Notifications ............................................................................................................................................................. 42
6.7
Preferences – ICEU only ...................................................................................................................................................... 43
Appendix – Examples of ICEU Treasury instructions .................................................................................................. 44
7.1
Federal Reserve (US Treasuries).......................................................................................................................................... 44
7.2
Euroclear France................................................................................................................................................................. 45
7.3
Clearstream Banking Frankfurt ........................................................................................................................................... 46
7.4
Euroclear UK and Ireland .................................................................................................................................................... 47
7.5
Euroclear Bank (EOC) .......................................................................................................................................................... 48
7.6
Clearstream Banking Luxembourg (CEDEL).......................................................................................................................... 49
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1 Introduction
The Extensible Clearing System (ECS) is used as the treasury management and position keeping system. It facilitates the
following:







The generation and settlement of intraday and overnight margin calls
The management of member and Clearinghouse collateral balances
Position Change Submission (PCS; also known as ‘close-outs’)
Position account summaries
Option exercise and expiration processing
Intraday contract expires
Creation of banking and clearing reports
Unless otherwise stated, the functionality in ECS is common across ICE Clear Europe (ICEU) and ICE Clear US (ICUS) and thus
this document is suitable for users from either Clearinghouse.
Please note for brevity, the term Member is used throughout this document to refer to both Clearing Members and
Exchange Members that access the ICE Clearing Systems.
Each ECS user will be issued a unique user ID and password. Access to the ICE Clear Europe Systems can be requested from
ICE Clearing Operations – iceuops@theice.com or +44 (0)20 065 7600. Access to ICE Clear U.S. systems can be requested
from ICE Clear U.S. – iceclearus@theice.com or (312) 836-6777.
2 Accessing ECS
ECS is a web based application and can be accessed via the following URL:
 ICEU - https://ecs.euclearing.theice.com
 ICUS - https://usclearing.theice.com
 Members will enter their ICE assigned user ID and password in the below login page.
Once the Username and Password has been authenticated, the Positions screen is displayed.
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The user can then navigate between the Position, Banking, Reports, and Profile tabs. To logout, the user can either
select the Logout link in the top right had side of the page or simple close the internet session.
Please note users of ICE Clear Europe CDS and FX Member will not have access to all screens except the Positions
screen.
3 Position Tab
The position tab displays a position summary for a given set of accounts and products. Through this tab, various
operation tasks can be performed. Each of these will now be described.
3.1
View Positions Operation
To view a position summary:
1. Select the position account by clicking on the account in the list box. For a multi select, use the ctrl+shift
combination for a continuous selection or the ctrl for a non-continuous selection. The All link can be used to
select all available positions account in the list box
2. Select the product account by clicking on the product in the list box. To perform a multi select, use the
ctrl+shift combination for a continuous selection or the ctrl button for a non-continuous selection.
3. Select the View Position radio button
4. Refresh
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Step 1
Step 3
Step 2
Step 4
Once the page has refreshed, the gross real time position is displayed for each product expiry, where there is open interest.
Also displayed, is the Last Trade Date/Expiration Date for each product expiry. From this view, the Member can also invoke
the following operations:
 PAY-T
 PA-Y
 MA
 PCS
 OEA
 DN
3.1.1.1 PAY-T: Today’s Position Activity
This operation allows the Member to view the transactions from current business day activity for a given position. To
invoke this view select the PAY-T link
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The Today’s Position Activity box will be displayed:
Product
code and
Name
To return to the main screen select Back.
Origin of
the
transaction.
E.g. PTMS
PTMS
Account
Reference
ECS
internal
ID
This
refers to
the trade
type.
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3.1.1.2 PA-Y: Yesterday Position Activity
This operation allows the Member to view the transactions from the previous business day for a given position. To invoke
this view select the PAY-Y link
The Yesterday’s Position Activity box will be displayed:
To return to the main screen select Back.
3.1.1.3 MA: Morning Adjustments
Morning Adjustments refers to the PCS instructions submitted against the prior day’s long/short values that are maintained
within ECS to update the adjusted start of day position used for Open Interest reporting.
This operation allows the Member to submit the morning PCS instructions for a given position. To perform the
operation, select the MA link:
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The Morning Adjustment box will be displayed:
ICEU
Enter the
close
quantity as a
positive
Enter the open
quantity as a positive
integer
Enter the original
close date if open
quantity  close
quantity for the
current business day
ICUS
Enter the
long position
as a positive
integer
i.
To close a position, enter the close out amount in the Close Quantity (positive integer) field and select Save. A
confirmation message will be displayed:
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ii.
To open a position, enter the amount in the Open Quantity field and select Save. A confirmation message
will be displayed:
i.
If the open quantity is greater than the quantity closed out for the current day, the Member will be required
to enter an Original Close Date (ICEU only) and the transaction will be reported to the Compliance
department.
3.1.1.4 PCS: Position Change Submission
This operation allows the Member to submit their PCS submissions on the top day positions and is applicable to ICEU
and ICUS. To perform the operation, select the PCS link:
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The PCS adjustment box will be displayed:
ICEU:
Enter the
close
quantity as
a positive
Enter the open
quantity as a positive
integer
Enter the original
close date if open
quantity  close
quantity for the
current business day
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ICUS:
Enter the
long position
as a positive
integer
ii.
To close a position, enter the close out amount in the Close Quantity field (ICEU) or the long position on the
Desired Long Quantity (ICUS) and select Save. A confirmation message will be displayed:
iii.
To open a position, enter the amount in the Open Quantity field and select Save. A confirmation message
will be displayed:
iv.
If the open quantity is greater than the quantity closed out for the current day, the Member will be required to
enter an Original Close Date (ICEU only) and the transaction will be reported to the Compliance department.
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3.1.1.5 OEA: Option Exercise/Abandon Request
Enter the number
of options to
exercise or
abandon as a
positive integer
This Operation allows the user to enter exercise and abandon request for American style options.
Once saved a confirmation message will be displayed.
3.1.1.6 DN: Delivery Notice input
This operation allows the user to enter a delivery notice/tender for a position in a tender period. To perform this action select
DN.
Upon clicking the DN operation the below box will pop up; Enter the number of lots you require to go in to delivery and confirm
by clicking save.
The below success pop up will appear, Hit back to complete and you will revert back to the position screen.
To reverse your delivery notice entry follow the same instruction above but input 0 quantity and this will revert the delivery
notice entered and adjust your position.
3.1.1.6 Export Positions
To export the positions displayed on the view positions screen, select the ‘Export Positions’ button
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Positions will be downloaded in a csv format and will containing the following columns:
Description
Column
Position Account
Position Accounts
Product Code
Product Type
The Exchange assigned physical commodity code for the futures or options
contract.
Futures or Options
Product Name
Long Name of the Commodity
Expiry
The expiry date or month for the contract
Put / Call
Strike Price
For Options, the identifier as to whether the option is a call or a put. Valid
values are “P” and “C”
For options, the price at which the option would be exercised.
EOD Long
Last night’s Positions - Long
EOD Short
Last night’s Positions - Short
Start of day positions + Morning PCS + Transfers received up until the OI run
Adj SOD Long
Adj SOD Short
Today Buy
Total Buy Today
Today Sell
Total Sell Today
Current Long
Current Real-Time long Position
Current Short
Current Real-Time Short Position
Held Exercise Requests
Held Abandon Requests
Last Trade Date/Expiration Date
Current Exercise Requests in the system. A new submission by member will
replace the existing held quantity in the system
Current Abandon Requests in the system. A new submission by member will
replace the existing held quantity in the system
Last Trade date for Futures contract
Expiration Date for the Options Contract
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3.2 Duplicate Positions (ICUS only)
This screen allows users to enter duplicate positions for the purpose of open interest reporting. Members are able to enter
positions for the current and next business day. To access the screen, select the Duplicate Position link. The screen will display
all duplicate position entered.
i.
To enter duplicate positions, select the Today or Tomorrow link on the left hand side of the page:
Select the to
enter duplicate
positions for the
respective day
ii.
Enter the account and position details and select Submit. Note a space must be used between the product
code and expiry.
Select to navigate to
the main position
screen
Select the Delete
checkbox to
delete a record
iii.
To navigate back to the main position screen, select the Management link.
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3.3 Currency Deliveries (ICUS only)
This screen allows Members to enter delivery intentions on last trading and review positions on pre last trading day.
Through this screen the user can also amend standing instructions.
Select to navigate to
the main position
screen
To navigate back to the main position screen, select the Management link.
3.4 Submit Morning Adj
This refers to PCS instructions submitted against the prior day’s long/short values that are maintained within ECS to
update the adjusted start of day position used for Open Interest reporting.
To perform such adjustments, select the Submit Morning Adj operation in the left hand side of the page and
Refresh:
This will display the Submit Morning Adjustments screen, which will display all positions based the search criteria specified.
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In the Submit Morning Adjustments screen enter the close or open quantities in the respective fields:
ICEU
Enter the close
out quantity as a
positive integer
Enter the
close out
quantity
Enter the
original close
date if open
quantity
close
quantity for
the current
business day
ICUS:
Enter the
long position
as a positive
integer
ICE Clear ECS User Guide
Page 17 of 49
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Through this screen, the members can enter the Open or Close Quantity for each position. Once all the
instructions are updated, the Member must select the Save button to submit the instructions.
1. To close a position, enter the close out amount in the Close Quantity field and select Save. A confirmation message
will be displayed:
2. To open a position, enter the amount in the Open Quantity field and select Save. A confirmation message will be
displayed:
3. If the open quantity is greater than the quantity closed out for the current day, the Member will be required to
enter an Original Close Date (ICEU only) and the transaction will be reported the Compliance department.
3.5 Submit PCS
The Submit PCS operation allows the Member to submit their PCS submissions on top day positions.
To perform such adjustments, select the Submit PCS operation in the left hand side of the page and refresh:
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This will display the PCS Screen, which will display all positions based the search criteria specified.
In the PCS screen the user can enter the close or open amount in the Close Quantity field (ICEU) or the long position in the
Desired Long Quantity (ICUS) and select Save.
1. Enter PCS instruction:
ICEU
Enter the
close
quantity as a
positive
Enter the open
quantity as a positive
integer
Enter the original close
date if open quantity 
close quantity for the
current business
day
ICUS:
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Enter the
long position
as a positive
integer
i.
To open a position, enter the amount in the Open Quantity field and select Save. A confirmation message will be
displayed:
ii.
If the open quantity is greater than the quantity closed out for the current day, the Member will be required
to enter an Original Close Date and the transaction will be reported to the Compliance department
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3.6 Re-Opening Positions
To create a new position, select the Create New Position link in the bottom left hand corner of the page.
This will invoke the Create Positions window. Complete the details for the position that needs to be reopened and select
Save.
ICEU
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ICUS
Note, for ICUS an original close date does not need to be provided.
ECS will then display the following confirmation:
Select Save to continue, the following confirmation message will be displayed:
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3.7 Option Exercise & Abandonments
Exercise and abandon requests relating to daily processing and expiry processing will be executed in this screen. The data
displayed will be according to the search criteria entered in the ‘Position Accounts’ and ‘Product’ list boxes.
3.7.1 Entering an Option exercise or abandon request
1.
Select the position account by clicking on the account in the list box. For a multi select, use the ctrl+shift
combination for a continuous selection or the ctrl for a non-continuous selection. The All link can be used to
select all available positions account in the list box
2.
Select the product account by clicking on the product in the list box. To perform a multi select, use the
ctrl+shift combination for a continuous selection or the ctrl button for a non-continuous selection.
3.
Select the Option Exercise Position radio button
4.
Refresh
Hint: The positions can be further filtered by selecting the magnify glass.
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Use the drop down to filter the positions as required. To add additional filters, select the + icon. Selecting the – icon will
remove a filter. Once the filters have been created select the Filter to process.
To exercise a position, enter the number of lots in the ‘No of Options for Exercise’ field and select Save in the bottom
right corner.
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To enter an abandon request, enter the number of lots in the ‘No of Options to Abandon’ field and select Save at the
bottom right corner.
To delete an exercise or abandonment request, the user must enter zero in to the correct field and select Save. This will
update the exercise or abandonment request back to its original state of zero.
Exercise and abandon requests are not cumulative. If an exercise or abandon request has been instructed, and an
additional request is required on the balance of the position, the user must enter a request on the entire position.
Therefore if a 5 lot exercise has been requested and an additional 5 lot exercise request is required, the user must enter an
exercise request for 10 lots which will overwrite the original request.
Exercise instructions will always supersede an abandonment instruction. For example, assume a 5 lot exercise request
and a 5 lot abandon request is submitted against a 10 lot position. Thereafter, a 2 lot position transfer is processed so
that the position is now reduced to 8 lots. When the exercise and abandon request are processed, the outcome will be an
exercise of 5 lots and an abandonment of 3 lots.
3.7.2 Warning Messages
Upon entering an out-the-money option exercise or an in-the-money option abandon instruction the system will provide the
user with a warning message providing the potential financial impact of the instruction to determine whether the option is
in-the-money or out-the-money and calculate the financial impact of the action. Where the reference price is not available,
the system will use the previous night’s settlement price. The warning message will stipulate which price has been used:
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The user must acknowledge the warning before continuing with the request.
3.7.3 Email Notifications
ECS will generate an automatic email notification to a pre-defined distribution list for all manual option exercise and abandon requests
entered in the system. The email will contain the following details:

The user that entered the instruction

The contract and position account

The number of lots of the manual instruction

The financial impact of the manual instruction, represented as a negative for a loss and positive for a gain

The price used to calculate the PNL

The price type i.e. ‘Reference Price’ or ‘Prior Settlement Price’

The time the instruction was entered
An example of the email notification is provided below:
Subscription to this notification can only be done via request to the Clearing house. Unlike other notifications, the Member is not able to manage the distribution list in
the Profile tab of ECS. Instead, the Clearing Manger or Access Co-ordinator must provide the Clearing house1 with a list of recipients they wish to add or remove from
the distribution list.
1 iceuops@theice.com and iceclearus@theice.com
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3.7.4 Manual Exercise Abandon Audit Report (MEAA)
In addition to the email notification, ECS will also provide the user with an audit report detailing the all manual
instruction that was entered for a given business day. The report provides details of:

The user that entered the instruction

The contract and position account

The number of lots of the manual instruction
The real time report is available in the Reports tab and can be downloaded in a csv format:
The EOD version of the report is available in a PDF version via the Reports Tab and MFT
3.8 Delivery Notice
In the Delivery Notice operation positions in a tender period will only be on show. Enter the number of futures required to go
to delivery in the No. of Lots to Deliver field, Hit Save at the bottom of the page to confirm. Delivery requests column will
update with the number of lots entered. This information will also appear on the Manual Delivery Notices report in the real
time section on the reports tab.
4 Reports
The Reports tab allows the user to download reports, view real time reports and view all messages broadcast by the
Clearing House in ECS.
4.1 Download Reports
Within this section users can download reports from the banking, clearing or CDS (ICEU CDS Clearing Members only)
sections. Reports are available in CSV, PDF and TXT (CDS reports only) and can be downloaded individually by clicking on the
required format.
If a user is assigned to more than one Clearing Member they will be able to select the Clearing Member they wish to
retrieve reports for via the Clearing Member dropdown box at the top of the screen.
The user can choose to download a ZIP file containing all formats of the reports within a section for a given business
date. The system will default the date to the previous business date however the user will be able to select a different
date by clicking on the date field. Once the correct date has been selected, click on the ‘In ZIP format’ to begin the
download
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4.1.1.1 Banking reports
This section is available to all users associated to a Clearing Member and contains a list of all banking reports available
via ECS.
4.1.1.2 Clearing Reports
This section is available to users associated to Clearing Members or Trading Members and contains the reports relating
to Trades and Positions. Please note for ICEU this section is not available to CDS and NYSE LIFFE Clearing Members.
Users assigned to Clearing Members who have associated Trading Members (NCMs) can select the Trading Member
from the dropdown list should they wish to download a report for the Trading Member.
Alternatively, they have the option to download a ZIP file containing all formats of clearing reports for the Clearing
Member and all associated Trading Members for the business dates specified:
4.1.1.3 CDS Reports
This section is only applicable to ICEU CDS Clearing Members and contains a list of clearing reports for the CDS asset class.
4.2 Today’s Messages
Throughout the day the Clearing House will broadcast events relating to clearing events. These broadcasts are displayed
on the top of the screen in ECS:
The message will be displayed on the screen for a period of 5 minutes after which it will disappear. The user can view all
broadcasts for the current clearing day by selecting the Reports tab. There is a Refresh button to update the screen with
the latest broadcasts.
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4.3 Prior Day’s Messages
By selecting the ‘Prior Day’s Messages’ the user is able to view all messages broadcast the previous business day.
Real Time Reports
4.4 PCS Submission Report
This screen provides Members with a real time view of the PCS Submissions submitted to the ECS. The report will show
instructions that were submitted via GUI and file submission
4.5 Manual PCS Audit
This report provides members with a real time view of the PCS submitted in to ECS. The report will show only manual
instructions, also providing an audit trail confirming who entered the instruction, Username and Timestamp.
4.6 Manual Options Instructions
This report provides members with a real time view of the Manual option instructions submitted in to ECS. The report
will show manual instructions, also providing an audit trail confirming who entered the instruction, Username and
Timestamp.
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4.7 Manual Delivery Instructions
This report provides members with a real time view of the Manual Delivery instructions submitted in to ECS. The report will
show manual instructions, also providing an audit trail confirming who entered the instruction, Username and Timestamp.
4.8 Option Exercise Abandon
This report provides members with a real time view of the option exercise abandon requests instructions submitted in to ECS.
The report will show manual instructions confirming account and position information to the related position along with potential
loss.
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5 Banking
The Banking tab allows for the management of assets on deposit with the Clearinghouse. Via this screen Members are able
to add new asset deposits, view collateral balances and withdraw or add to existing deposits for a given settlement
account.
The banking tab has an Intraday Ledger page which displays the Member’s standing requirements for a given
settlement account.
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The banking tab has an Pending ADW Requests page which displays outstanding ADW request and also
provides a status.
5.1
Create a new deposit
To create a new asset deposit in a settlement account, select the Add new asset deposit link in the respective
settlement account section:
In the Create Asset Deposit Request, select the Asset to deposit and complete the relative deposit details. For detailed
examples on completing collateral requests, please refer to Appendix 1
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Once the request has been created, the instruction is in a Pending Approval state and must be approved by a second
user before it is submitted to the Clearinghouse for its acceptance.
To approve the instruction, the second user must select the ‘tick’ icon. This will invoke the Approve asset request page.
Once the user has checked the instruction, the Submit button is selected to send to the instruction to the Clearinghouse.
This will set the state of the instruction to Submitted. The instruction can be deleted in a Pending Approval or Submitted
state.
The state of the instruction is set to Pending once it has been accepted by the Clearinghouse. In this state, the
instruction has been sent to the settlement bank. Upon settlement, the status of the instruction is set to Completed.
This indicates that the asset is now on deposit with the Clearinghouse in the Member’s respective settlement account.
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Withdraw an asset
or add to an
existing asset
Instructions
submitted
and awaiting
CH approval
Asset is now on
deposit with the
Clearinghouse
in the Member’s
Instruction must be
approved by 2nd user
before it is submitted
to the CH
Select the ‘X’
icon to cancel an
instruction in a
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5.2 Withdrawing an Asset
To withdraw an asset on deposit, select the ‘Subtraction’ icon on the right hand of the asset balance. Complete the
withdrawal amount and select the Submit button:
Once the request has been created it will appear in the Withdrawal Requests box. The instruction is in a Pending Approval
state and must be approved by a second user before it is submitted to the Clearinghouse for its acceptance.
To approve the instruction, the second user must select the ‘tick’ icon. This will invoke the Approve asset request page.
Once the user has checked the instruction, the Submit button is selected to send to the instruction to the
Clearinghouse. This will set the state of the instruction to Submitted.
The state of the instruction is set to Pending once it has been accepted by the Clearinghouse. In this state, the
instruction has been sent to the settlement bank. Upon settlement, the status of the instruction is set to Completed.
This indicates that the asset is now on deposit with the Clearinghouse in the Member’s respective settlement account.
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6 Profile Management
This tab allows the Member to manage the following profiles settings:
6.1 Member Contact
This view displays the Clearinghouse’s contact information for the Member. The Member should contact the
Clearinghouse should any information require updating.
Specific to
Clearinghouse
6.2 User Contact
This page displays the contact information of the individual user. This information can be updated by selecting the Update
Info button
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6.3 Change Password (ICEU only)
Through this page, the user is able to reset their ECS password.
6.4 Auto Release
This option allows the user to set the Auto Release setting per currency for a given settlement account. After the end of
day cover calling process, ECS will automatically return any excess cash on the settlement account based upon the auto
release settings.
An entry of zero (0) for a given currency implies that all excess cash on the settlement account will be automatically
credited to the bank account of the settlement account.
If a threshold amount is entered, e.g. 10 million, ECS will return the entire cash excess on the account once the
threshold is breached.
A blank entry in the in the auto release setting implies that the auto release is inactive, and ECS will retain all cash excess
on deposit for the settlement account.
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6.5 Settlement Instructions (NYSE:Liffe)
Clearing Members are required to input, for each position account, Standing Settlement Instructions (SSIs) for any equity
or bond settlements arising from NYSE LIFFE delivery obligations.
ICE Clear Europe will settle locally in Frankfurt, France, Netherlands, Switzerland, Turkey and UK and Ireland. All other
settlements will be done through Euroclear Bank. The list below provides the CSDs through which NYSE LIFFE trade
settlements will be conducted:

Clearstream Banking Frankfurt

Euroclear Bank

Euroclear France

Eurocelar Nederland

Euroclear UK and Ireland

Six Sis Ag

Takasbank
The SSI screen is accessed via the Profile tab by selecting the ‘SETTLEMENT INSTRUCTIONS’ menu on the left. Through the
SSI screen you will be able to choose the position account from a drop down box ‘LIFFE Position Account’ highlighted below.
This will be available in both the bond and equity’s tabs.
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Members are required to input SSIs for ALL position accounts (including the default position account and all
accounts of Non Clearing Members (NCMs)) that intend to deliver/ take delivery of bonds/equities.
6.5.1 Entering Default SSIs
The “DEFAULT” SSI entry allows the Member to define a default set of SSIs that are applicable to all underlying position
accounts, including that of their Trading Members.
The “DEFAULT” SSIs are not populated in the fields of all position accounts. Once the default SSIs are entered the Member
is able to define a different set of SSIs for individual position accounts without resetting the default setting. The system will
only use the default setting for position accounts where SSIs have not been defined. Subsequent updates to the default
SSIs do not overwrite SSIs that have been defined for individual position accounts. Should you wish to use the default SSIs
for a position account that has different SSIs you are required to delete those SSIs.
6.5.1.1 Example
Clearer YIM has two NCMs, XXX and ZZZ, which results in 7 position accounts that require SSIs:

YIMH

YIMC

YIMD

XXXH

XXXD
www.theice.com

YYYH

YYYD
Of the 7 position accounts, XXXH and XXXD require different SSIs to the rest of the accounts. To achieve this set up, YIM uses
the “DEFAULT” setting to define a set of SSIs that will apply to all 7 position accounts. However, since XXX require different
SSIs, YIM will enter these in the XXH and XXD position account entry screen.
Thereafter, if XXX wish to use the default SSIs, YIM must delete the entries made for the XXX position accounts. Updating
the default SSIs will not overwrite the entries for the XXH and XXD position accounts.
The above approach is the preferred set up approach for Clearing Members who use one set of SSI for all or majority of
settlements.
6.5.2 Entering SSIs for individual position accounts
In addition to the “DEFAULT” setting, Members may choose to enter individual SSIs for each position account. This is done
by navigating to the respective position account (in the example below this is displayed YIMH) and entering the relevant
details for each CSD.
Note, that SSIs must be entered for each position account through which an equity or bond settlement may be
processed
www.theice.com
Please note that the required information on the screen differs for each CSD. This is displayed in the below table:
CSD
Beneficiary
Safekeeping Account
CSD Account
Beneficiary BIC
Clearstream Banking Frankfurt
Required
Required
Optional
Euroclear Bank
Required
Not entered
Not entered
Euroclear France
Required
Required
Optional
Euroclear Nederland
Required
Required
Required
Euroclear UK and Ireland
Required
Not entered
Not entered
Six Sis Ag
Required
Required
Optional
Takasbank
Required
Required
Optional
6.5.3 Entering SSIs for a Member using a settlement agent:

CSD Account: Account at the CSD through which the delivery of bonds or equities will occur.

Beneficiary BIC: Member BIC - not the settlement agent.

Beneficiary Safekeeping Account: Member safekeeping account at CSD
6.5.4 Entering SSIs for a Member who wants to use a Euroclear account to settle in the one of the local markets that ICE settles at:

CSD Account Number: Euroclear account number at Local CSD

Beneficiary BIC: Member BIC

Beneficiary Safekeeping Account: Member safekeeping account at Euroclear Bank
6.5.5 Entering SSIs for a Member who wants to use a Clearstream Luxemburg account to settle through Clearstream Frankfurt

CSD Account Number: Clearstream Luxemburg account number at Clearstream Frankfurt through which the delivery
of equities or bonds will occur

Beneficiary BIC: Member BIC

Beneficiary Safekeeping Account: Member safekeeping account at Clearstream Luxemburg
www.theice.com
6.5.6 SSI Deadline
Settlement instructions can only be entered before 10:00 London time. ECS will prevent the entry of SSIs after this time
and the below notice will be displayed:
6.6 Email Notifications
The Clearinghouse will send out email notifications notifying the recipients of a specific clearing event. The Member is able to
specify the recipients of these notifications via the Email Notifications screen. Users who are assigned to more than one Member
are able to specify the Member for which they wish to set up a notification subscription.
Unlike the rest of the notifications, subscription to the Manual Option Instruction notification cannot be managed by the
Member in this screen. Instead recipients of the notification can be added and removed by contacting the Clearing house.
www.theice.com
To add a recipient, enter the email address in the Addresses box and Submit. More than one address should be separated
by a coma.
6.7 Preferences – ICEU only
Clearing Members are able to specify the order of currency in which the Clearinghouse issues cash calls. In the below
example, ECS will issue a cash call for the ZZH USD settlement account in EUR. If it is a non-settlement day for EUR, ECS will
call in USD and finally in GBP as a last preference
To edit the currency preference, the Member should contact the Clearinghouse2
2
iceuops@theice.com or icecleartreasury@theice.com
www.theice.com
7 Appendix – Examples of ICEU Treasury instructions
7.1 Federal Reserve (US Treasuries)
CSD Account: FED mnemonic counterparty
CSD Sub account: client account at FED participant
Examples:
BANK OF NEW YORK/PARIBAS
CITIBANK NYC/CUST
ICE Clear settlement details:
JPMorgan Chase US
ABA 021000021
For House and Client
- FED mnemonic: JPMCHASE/IECLRCLEAR
- Account:
G68702
FCM Client segregated accounts (F, W and Z):
- FED mnemonic: JPMCHASE/IEDCLEARUS
- Account
G68713
Instruction DEADLINE: 17.00 (UK time)
www.theice.com
7.2 Euroclear France
ICE Clear does not support domestic settlement at Euroclear France. Deliveries can be made from your account at Euroclear France to
ICE Clear account 14800 at Euroclear Bank (Cross Border)
CSD Account: EX[Euclid Equivalent of EGSP]
Examples:
EX98912
EX98648
BNP PARIBAS (EGSP/30)
CITI BANK PARIS (EGSP/186)
ICE Clear settlement details (Euroclear Bank):
ICE Clear Europe
EOC participant: 14800
Instruction DEADLINE: 13:20 (UK time)
www.theice.com
7.3 Clearstream Banking Frankfurt
ICE Clear does not support domestic settlement at Clearstream Frankfurt.
Deliveries can be made from your account at Clearstream Banking Frankfurt to
ICE Clear account 14800 at Euroclear Bank (Cross Border).
CSD ACCOUNT: EX[Euclid Equivalent of DAKV]
Examples:
EX69447
EX54390
CITI BANK FRANKFURT (DAKV 7372)
BNP PARIBAS FRANKFURT (DAKV 7259)
ICE Clear settlement details (Euroclear Bank):
ICE Clear Europe
EOC participant: 14800
Instruction DEADLINE: 14:30 (UK time)
www.theice.com
7.4 Euroclear UK and Ireland
CSD Account: [participant number counterparty at EOC UK (CREST)]
Examples:
5DOAD
303
ICE Clear settlement details:
ICE Clear Europe
CREST: 6NUAA
Instruction DEADLINE: 12.00 (UK time
CITI BANK UK
GOLDMAN SACHS
www.theice.com
7.5 Euroclear Bank (EOC)
CSD Account: [participant number EOC BANK]
Examples:
94589
Goldman Sachs
ICE Clear settlement details:
ICE Clear Europe
EOC participant: 14800
Instruction DEADLINE: 15.00 (UK time)
ATTENTION: All ICE instructions contain the daylight indicator. Settlement can be made in the overnight settlement window however, should
Clearing Members prefer to settle after this window “daylight” should be quoted on the counterparty instruction.
www.theice.com
7.6 Clearstream Banking Luxembourg (CEDEL)
ICE Clear does not support domestic settlement at Clearstream Luxembourg. Deliveries can be made from your account at
Clearstream Banking Luxembourg to ICE Clear account 14800 at Euroclear Bank (Bridge).
CSD Account: CEDE/[participant number CBL]
Examples:
CEDE/30180
KAS BANK
ICE Clear settlement details (Euroclear Bank):
ICE Clear Europe
EOC participant: 14800
Instruction DEADLINE: 12:00 (UK time)
ATTENTION: All ICE instructions contain the daylight indicator. Settlement can be made in the overnight settlement window however, should
Clearing Members prefer to settle after this window “daylight” should be quoted on the counterparty instruction.
END