Trading & Clearing

  1. What is the ICDX matching system algorithm?

    Each contract within ICDX is configured to match orders based on a ProRata, FIFO or split ProRata algorithm consistent with industry expectations.

  2. Who will be able to trade using the ICDX trading platform?

    Traders with a futures trading account at an ICDX approved brokers will be able to submit orders to the ICDX trading platform through various channels depending on their preference of technology and whether or not they want to have a direct market access relationship with ICDX. All trades must be eligible for clearing in a valid commodity futures trading account carried by an authorized Clearing member directly or via non-clearing member on an omnibus basis.

  3. What are the ICDX contract margin rates and where can they be retrieved?

    ICDX Contract margin rates will be published on the ICDX website under Products session.

  4. Who are ICDX’s clearing members?

    Transactions in ICDX will be cleared by the ISI Clearing House. In order to trade ICDX products you must have an open account with an clearing member that supports ICDX futures trading. Please contact ICDX, ISI Clearing House or your brokers to determine if your account authorizes you to trade ICDX products.

  5. How are settlement prices calculated?

    Settlements are calculated using market information at the end of the traditional trading day. ICDX staff will consider all market information on its exchange as well as other exchanges offering identical products. Assuming similar market conditions, it is expected that the review process will produce a daily settlement price consistent with that of the comparable products on other exchanges.

  6. When will settlement prices be published?

    Final settlements will be published to the ICDX website by 6:30 pm Jakarta Time.

  7. How will trade inquiry and bust notifications be delivered?

    Trade inquiry and bust notifications will be sent out via the ICDX system and via an e-mail alert service application that will send notifications to contacts provided to ICDX through the members.

  8. Are there surcharges for EFPs or block trades?

    Currently there are no surcharges for EFPs or block trades.

  9. What happens if I am involved in an error trade?

    A request for trade review must be made within 5 minutes of trade execution time. Trades that fall outside the No Bust Range are subject to cancellation or price amendment. Trade bust requests will be reported to ICDX Market Control Center (MCC) and will be reviewed against prevailing market conditions.

  10. How do I manage risk on ICDX?

    The ISI Clearing House Risk Management System provides Clearing members the ability to limit trading quantities, establish position limits, and monitor utilization for those User IDs that have been authorized for trading on ICDX. They must provide a clearing guarantee.

  11. What are the regulatory reporting requirements for ICDX?

    ICDX requires all brokers to file Large Trader Reports directly with ICDX in addition to their COFTRA obligations.