Ice considers moving Brent contract to avoid EU margin hike

Ice says move is “not an outcome we want to see” but Emir margin could drive users away

canary-wharf-skyline-2-london-uk-oct-2012
London: could lose Brent crude contract

Ice could move its benchmark Brent crude futures contract from London to New York if clearing members refuse to soak up the extra margin costs associated with Europe's new clearing rules. Moving to another jurisdiction would enable users of the contract to benefit from lighter margin requirements.

"It's not an outcome we want to see, but as you'd understand, it's in the market's interest and our interest to be prepared for that outcome," says Paul Swann, president of Ice Clear Europe in London.

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: