SPAN Explanation
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Cross Margining
Eligible Participants
- Members of ICE Futures U.S. and/or The Options Clearing Corporation (OCC) are automatically eligible for a cross-margin arrangement.
- Only market professionals are permitted to participate in the cross-margin program. Market professionals are defined as market makers, specialists or registered traders as defined by the OCC. Market Professionals who are non-members of ICE Futures U.S. are required to execute a participant agreement in order to benefit from cross margining.
- Any member of any contract market can participate by registering as a Cross-Margin member of ICE Futures U.S.
Non-Member Registration
Members of any other contract market must register as an ICE Futures U.S. member for cross-margin purposes.
Required Documents
Member firms wishing to open cross-margining accounts at OCC and ICE Clear must execute one of the following documents based on the type of positions held in the account:
- Joint Clearing Member Proprietary Cross Margin Account Agreement
- Affiliated Clearing Member ProprietaryCross Margin Account Agreement
In the case of a Non-Proprietary Cross-Margin Account, member firms must obtain the following from each Market Professional:
- Joint Clearing Member Non-proprietary Cross Margin Account Agreement
- Affiliated Clearing Member Non-proprietary Cross Margin Account Agreement
Market Professionals who are not members of ICE Futures US must complete the following:
- Joint Clearing Member Market Professional Agreement
- Affiliated Clearing Member Market Professional Agreement
Members of other futures contract markets must submit a Cross Margin Participant Application to ICE Futures U.S.
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Affiliated Member Docs
Joint Member Docs
- Market Professional Agreement
- Proprietary Cross Margin Account Agreement
- Non Proprietary Cross Margin Account Agreement
Approved Depositories
Collateral Information