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FOREIGN EXCHANGE

ICE blocks FX

The IntercontinentalExchange (ICE), home of the dollar index and other FX contracts, has implemented a block trading facility for most of its products for eligible parties. This includes, among others, futures commission merchants, floor brokers and traders, broker dealers, financial institutions, insurance companies, pension funds, corporations, commodity pools, investment companies and high net-worth individuals who satisfy certain criteria. According to a source at ICE, FX trades that meet the block thresholds can now be done bilaterally and sent to ICE for clearing at no extra cost above the normal transaction charges.

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