ICE Futures on CMC Policy Call

Yesterday on CMC’s member-only policy call, ICE Futures provided an overview of their business and discussed the main regulatory topics they are currently focused on, including position limits; entity and product definitions; core principles of SEFs, DCOs and exchanges; and the MF Global situation.
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ICE coffee hits 34-yr high, cocoa consolidates

Coffee markets traded at multi-year highs, led by the New York arabica market, where a shortage of high quality beans is boosting prices. ICE cocoa futures  were steady, as political uncertainty in top producer Ivory Coast continued to stall the local cocoa industry’s activity.

ICE names former NH Sen. Judd Gregg to its board

Former U.S. Sen. Judd A. Gregg will join the board at IntercontinentalExchange, the futures exchange announced Monday.

Gregg, 64, a Republican, left office in January after representing New Hampshire for three terms. Prior to that, he served as governor of New Hampshire, from 1989 to 1992 and in the House of Representatives from 1981 to 1989.

While a senator he chaired the budget committee from 2005 to 2007 and the health, education and labor committee from 2003 to 2007. In 2009 President Obama nominated Gregg to serve as commerce secretary, but he withdrew his name a few days later, citing differences regarding the economic stimulus and other issues.

ICE Chairman and CEO Jeffrey C. Sprecher cited Gregg’s “deep understanding of financial markets, as well as his extensive public policy and business experience” as valuable as the company expands globally.

In 2009, ICE directors received an annual retainer of $45,000, with members of certain committees receiving an additional $10,000, along with a grant of $175,000 in restricted stock units, according to a regulatory filing. The company has not yet filed materials describing 2010 compensation for board members with the Securities and Exchange Commission.

The company, based in Atlanta, operates global futures exchanges, clearing houses and over-the-counter markets.

In afternoon trading, ICE shares jumped $4.57, or 3.5 percent, to $134.82. The stock has changed hands between $92.18 and $135 in the past 52 weeks.

Link to article here.