ICE. ICEBlock User Guide for ICE Futures US

Transcription

1 ICE ICEBlock User Guide for ICE Futures US

2 Table of Contents 1. Introduction Getting Setup ICEBlock Trade Entry Cross trade entry Non-Cross trade entry Submitted tab Confirming Non-Cross Trades Alleged tab ICEBlock Audit & Reports Audit tab Reports tab ICEBlock trades on ICE...15 Copyright IntercontinentalExchange, Inc. 2007, All Rights Reserved. Page 2 of 15

3 1. Introduction ICEBlock is an independent, neutral platform that can be used for the submission of offexchange transactions for products offered by ICE Futures US. ICEBlock helps Clearing Members eliminate the need to manually submit off-exchange trades for Clearing by providing an electronic, automated and auditable alternative. The facility now allows Clearing Members to submit both cross trades (buy side & sell side) and non-cross trades alleging the buy or sell side to another Clearing Member. Cross trades are immediately processed for clearing where as non-cross trades will only be submitted to clearing when the opposing Clearing Member confirms the alleged non-cross trade. The ICEBlock system is web-based and provides users with the latest security standards and procedures to ensure data integrity and confidentiality. Trades resulting from ICEBlock can be queried and viewed by authorized users via secure access to the website. ICEBlock features a fully redundant server architecture and comprehensive data archival and disaster recovery facilities for high availability and reliability. Copyright IntercontinentalExchange, Inc. 2007, All Rights Reserved. Page 3 of 15

4 2. Getting Setup Currently to gain access and submit trades on ICEBlock you have to be a Clearing Member of ICE Futures US. Set up requires the Clearing Member to complete an ICEBlock Enrollment Form which details the users who will have access and the right to submit transactions. The form can be requested from the ICE Helpdesk at icehelpdesk@theice.com. The form should be completed by either a Compliance Officer or a company appointed administrator and returned to the above address. User IDs and temporary passwords will be issued. You will be prompted to change your password upon access for the first time. You can access ICEBlock from ICE s main website, Select ICEBlock from the LOGIN TO dropdown and enter a User Name and Password. Copyright IntercontinentalExchange, Inc. 2007, All Rights Reserved. Page 4 of 15

5 3. ICEBlock Trade Entry Upon successful login to ICEBlock, the Trade Ticket will be displayed. This is the main trade entry screen where off-exchange trades are submitted to ICE Futures US for clearing. From the dropdown lists, select the following: 1. Market Type The specific commodity (e.g. Cocoa, Cotton, Russell, etc). 2. Product / Hub Product and location / delivery point. 3. Trade Type Type of trade (e.g. EFS, EFP). 4. Contract The delivery month and year of the contract (e.g. Jan07). 5. Option Type Type of option (e.g. Call, Put); only applicable for products where options are supported on ICE. 6. Cross Trade Yes or No. If Yes is selected, you need to select both buyer company and seller company names from the dropdowns. If No is selected, then you only need to enter either the buyer company or the seller company, depending on the side of the deal you are on. 7. Buyer Company Company who is the Buyer of the transaction. 8. Seller Company Company who is the Seller of the transaction. Once the details have been selected, click Enter New. fields for data entry. This will present the appropriate 3.1 Cross trade entry The example below displays a trade ticket for a Cross trade (Cross = Yes). 1. Price - Trade Price of the transaction 2. Quantity - Quantity of the transaction in the product s respective unit of measure. 3. Buyer - Buyer Company s trader. 4. Member ID - The Buyer s Badge ID. Copyright IntercontinentalExchange, Inc. 2007, All Rights Reserved. Page 5 of 15

6 5. Clearer - The Buyer s Clearing Firm. Values are all NYCC House numbers. 6. CTI - The Buyer s Customer Type Indicator. Values are 1, 2, 3, and Seg-Type - The Buyer s account code. Values are H and C. 8. Account The Buyer s account. Fields 3 8 are repeated for the Seller 9. Execution Date / Time Time the trade was executed off-exchange. Date cannot be altered. 10. Transaction Details Miscellaneous details of the trade (clicking the checkbox next to this field sends these details to the Buyer and Seller s confirmation on ICE). After entering the information, click Pre-Confirm. displayed for review. A summary of the data entered will be If all data is correct, click Confirm to submit the deal for clearing. A confirmation will be displayed if the trade is submitted successfully, and a unique Deal ID is created. Copyright IntercontinentalExchange, Inc. 2007, All Rights Reserved. Page 6 of 15

7 3.2 Non-Cross trade entry The following example displays a trade ticket for a Non-cross trade (Cross = No). There are two main differences to note on the non-cross trade ticket: First, you only enter the buy side or the sell side of the trade, depending upon whether you selected the Buyer Company or Seller Company. Second, you select the opposing Clearing Member from the Seller (or Buyer) Broker dropdown. Note: The term Broker is used for a Clearing Member that has access to ICEBlock. As before, click Pre-Confirm and the confirmation window will be displayed. Verify the details and click Confirm to submit the buy or sell side of your non-cross trade to the opposing Clearing Member. Copyright IntercontinentalExchange, Inc. 2007, All Rights Reserved. Page 7 of 15

8 3.3 Submitted tab Once the non-cross trade is submitted to the opposing Clearing Member, you can view it on the Submitted tab. The Submitted tab contains all non-cross trades submitted by your company. To view non-cross trades that your company has submitted, you can use the various dropdowns to widen or narrow your search. All dropdowns have an All selection except Market Type. Select the values you want to search on and click the Search button to retrieve non-cross trades submitted by your company. If you discover that you have made an error or no longer require a non-cross trade, you will have to kill the non-cross trade (and re-enter another non-cross trade if necessary). To kill an existing non-cross trade, click the X under the Kill column. A window will be displayed for you to confirm the kill or cancel the action. Page 8 of 15

9 4. Confirming Non-Cross Trades 4.1 Alleged tab The Alleged tab displays all non-cross trades that have been alleged to your company by another Clearing Member. Confirming these non-cross trades creates a consummated deal that is sent to clearing. To view non-cross trades that are being alleged to your company, you can use the various dropdowns to widen or narrow your search. All dropdowns have an All selection except Market Type. Select the values you want to search on and click the Search button to retrieve non-cross trades alleged to your company. To confirm a non-cross trade that has been alleged to your company, click the in the Confirm column. Once this has been clicked, a Trade Confirmation pop-up window will appear. Page 9 of 15

10 Select your Seller (or Buyer) Company. Once the Company has been selected, the Trade Confirmation Pop-up will expand so you can select the relevant Seller (or Buyer) trader details. After entering the information, click Pre-Confirm. A summary of the data entered will be displayed for review. Page 10 of 15

11 If all data is correct, click Confirm to submit the deal for clearing. A confirmation will be displayed if the trade is submitted successfully. Page 11 of 15

12 5. ICEBlock Audit & Reports 5.1 Audit tab The Audit tab allows users to query all non-cross trades ever entered by your company and shows their corresponding status: Confirmed, Killed or Submitted. Select the search criteria by utilizing the dropdown lists provided in the banner. The search criteria are as follows: Market Type - The specific commodity (e.g. Cocoa, Cotton, Russell, etc). Product / Hub - Product and location/delivery point. Trade Type - Type of trade (e.g. EFS, EFP). Contract - The delivery month and year of the contract. From/To Date Range - Date range the trades were entered ID Type Search for trade by ICE Deal ID or data in the Transaction Details field. Broker Buyer or Seller Broker of the transaction. Company Buyer or Seller Company who of the transaction. Once the search criteria have been selected, select the date range and click Search. Page 12 of 15

13 All non-cross trades your company submitted matching the selected parameters will be returned. The data may be sorted by double-clicking on the column headings. You can view full detail on the non-cross trade by clicking on the status (Confirmed, Killed, or Submitted) hyperlink. This will deploy a window with additional details. Users can export the list of non-cross trades to Excel by clicking the Export button. Please note that Options trades are displayed in the same way described above; however, the Options button must be clicked to switch the report to the Options format. Page 13 of 15

14 5.2 Reports tab The Reports tab allows users to query all cleared trades ever entered by your company (whether the result of cross or non-cross confirmation). Select the search criteria by utilizing the drop down lists provided in the banner. The search criteria are as follows: Market Type - The specific commodity (e.g. Cocoa, Cotton, Russell, etc). Product / Hub - Product and location/delivery point. Contract - The delivery month and year of the contract. Buyer Company - Company who is the Buyer of the transaction. Seller Company - Company who is the Seller of the transaction. ID Type Search for trade by ICE Deal ID or data in the Transaction Details field. From/To Date Range Date range the trades were entered Trade Type - Type of trade (e.g. EFS, EFP). Once the search criteria have been selected, select the date range and click Search. All trades matching the selected parameters will be returned. The data may be sorted by double-clicking on the column headings. Users can view the full trade confirmation by clicking on the ICE ID hyperlink. Users can export the list of trades to Excel by clicking the Export button. Please note that Options trades are displayed in the same way described above; however, the Options button must be clicked to switch the report to the Options format. Page 14 of 15

15 6. ICEBlock trades on ICE Notifying the market of trades blocked into ICE s clearing infrastructure is a critical element to market transparency and liquidity. As off-exchange trades are executed via ICEBlock, several customer and market specific notifications are broadcast to ICE. First, upon receiving confirmation in ICEBlock that the trade was successfully submitted for clearing, the trader will also receive a confirmation on ICE. This confirmation is orange in color and has the word BLOCK (or EFP or EFS ) on it to denote that it was entered via ICEBlock. In addition, the ICE ticker displays all trades entered via ICEBlock with a blue ICEBlock icon and the tag <<BLOCK>>, <<EFP>>, or <<EFS>>. The Block Vol, EFS Vol, and EFP Vol columns on the ICE trading grid also reflect the total volume of all Futures trades entered via ICEBlock in the market for the day. Page 15 of 15