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v3.24.3

Clearing Operations (Tables) | 9 Months Ended
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Sep. 30, 2024
Broker-Dealer [Abstract] |
Schedule of Guaranty Fund Contribution | Our clearing houses are responsible for providing clearing services to each of our futures exchanges, and in some cases to third-party execution venues, and are as follows, referred to herein collectively as "the ICE Clearing Houses":
Clearing House |  | Products Cleared |  | Exchange where Executed |  | Location
ICE Clear Europe |  | Energy, agricultural, interest rates and equity index futures and options contracts |  | ICE Futures Europe, ICE Futures U.S., ICE Endex, and ICE Futures Abu Dhabi |  | U.K.
ICE Clear U.S. |  | Agricultural, metals, foreign exchange, or FX, interest rate and equity index futures and/or options contracts |  | ICE Futures U.S. |  | U.S.
ICE Clear Credit |  | OTC North American, European, Asian-Pacific and Emerging Market CDS instruments |  | Creditex and third-party venues |  | U.S.
ICE Clear Netherlands |  | Derivatives on equities and equity indices traded on regulated markets |  | ICE Endex |  | The Netherlands
ICE Clear Singapore |  | Energy, metals and financial futures products |  | ICE Futures Singapore |  | Singapore
ICE NGX |  | Physical North American natural gas, environmental commodities and physical and financial electricity |  | ICE NGX |  | Canada
Schedule of Guaranty Fund Contribution and Default Insurance | Such amounts are recorded as long-term restricted cash and cash equivalents in our balance sheets and are as follows (in millions):
|  | ICE Portion of Guaranty Fund Contribution |  | Default insurance
Clearing House |  | As of September 30, 2024 |  | As of December 31, 2023 |  | As of September 30, 2024 |  | As of December 31, 2023
ICE Clear Europe |  | $197 |  | $197 |  | $100 |  | $100
ICE Clear U.S. |  | 75 |  |  | 75 |  |  | 25 |  |  | 25 |
ICE Clear Credit |  | 50 |  |  | 50 |  |  | 75 |  |  | 75 |
ICE Clear Netherlands |  | 2 |  |  | 2 |  |  | N/A |  | N/A
ICE Clear Singapore |  | 1 |  |  | 1 |  |  | N/A |  | N/A
ICE NGX |  | 45 |  |  | 15 |  |  | 200 |  |  | 200 |
Total |  | $370 |  | $340 |  | $400 |  | $400
Schedule of Cash and Invested Deposits | As of September 30, 2024, our cash and invested margin deposits were as follows (in millions):
| ICE Clear Europe |  | ICE Clear Credit |  | ICE Clear U.S. |  | ICE NGX |  | Other ICE Clearing Houses |  | Total
Original margin | $ | 42,632 |  |  | $ | 22,020 |  |  | $ | 7,533 |  |  | $ | — |  |  | $ | 4 |  |  | $ | 72,189 |
Unsettled variation margin, net | — |  |  | — |  |  | — |  |  | 788 |  |  | — |  |  | 788 |
Guaranty fund | 2,441 |  |  | 3,513 |  |  | 626 |  |  | — |  |  | 5 |  |  | 6,585 |
Delivery contracts receivable/payable, net | — |  |  | — |  |  | — |  |  | 331 |  |  | — |  |  | 331 |
Total | $ | 45,073 |  |  | $ | 25,533 |  |  | $ | 8,159 |  |  | $ | 1,119 |  |  | $ | 9 |  |  | $ | 79,893 |
As of December 31, 2023, our cash and invested margin deposits were as follows (in millions):
| ICE Clear Europe |  | ICE Clear Credit |  | ICE Clear U.S. |  | ICE NGX |  | Other ICE Clearing Houses |  | Total
Original margin | $ | 40,170 |  |  | $ | 28,353 |  |  | $ | 4,693 |  |  | $ | — |  |  | $ | 5 |  |  | $ | 73,221 |
Unsettled variation margin, net | — |  |  | — |  |  | — |  |  | 984 |  |  | — |  |  | 984 |
Guaranty fund | 2,358 |  |  | 3,017 |  |  | 609 |  |  | — |  |  | 5 |  |  | 5,989 |
Delivery contracts receivable/payable, net | — |  |  | — |  |  | — |  |  | 600 |  |  | — |  |  | 600 |
Total | $ | 42,528 |  |  | $ | 31,370 |  |  | $ | 5,302 |  |  | $ | 1,584 |  |  | $ | 10 |  |  | $ | 80,794 |
Schedule of Cash and Cash Equivalents | Details of our deposits are as follows (in millions):
Cash and Cash Equivalent Margin Deposits and Guaranty Funds
Clearing House |  | Investment Type |  |  | As of September 30, 2024 |  |  | As of December 31, 2023
ICE Clear Europe |  | National bank account (1) |  |  | $ | 6,079 |  |  |  | $ | 5,819 |
ICE Clear Europe |  | Reverse repo |  |  | 36,177 |  |  |  | 32,695 |
ICE Clear Europe |  | Sovereign debt |  |  | 2,753 |  |  |  | 3,745 |
ICE Clear Europe |  | Demand deposits |  |  | 64 |  |  |  | 40 |
ICE Clear Credit |  | National bank account |  |  | 18,083 |  |  |  | 22,754 |
ICE Clear Credit |  | Reverse repo |  |  | 4,593 |  |  |  | 5,381 |
ICE Clear Credit |  | Demand deposits |  |  | 2,857 |  |  |  | 3,235 |
ICE Clear U.S. |  | Reverse repo |  |  | 7,811 |  |  |  | 4,955 |
ICE Clear U.S. |  | Sovereign Debt |  |  | 348 |  |  |  | 347 |
Other ICE Clearing Houses |  | Demand deposits |  |  | 9 |  |  |  | 9 |
Total cash and cash equivalent margin deposits and guaranty funds |  |  | $ | 78,774 |  |  |  | $ | 78,980 |
Invested Deposits, Delivery Contracts Receivable and Unsettled Variation Margin |  |  |  |  |  |  |  |
Clearing House |  | Investment Type |  |  | As of September 30, 2024 |  |  | As of December 31, 2023 |  |  |  |  |  |  |  |
ICE NGX |  | Unsettled variation margin and delivery contracts receivable |  |  | $ | 1,119 |  |  |  | $ | 1,584 |  |  |  |  |  |  |  |  |
ICE Clear Europe |  | Invested deposits - sovereign debt |  |  | — |  |  |  | 230 |  |  |  |  |  |  |  |  |
Total invested deposits, delivery contracts receivable and unsettled variation margin |  |  | $ | 1,119 |  |  |  | $ | 1,814 |  |  |  |  |  |  |  |  |
(1) As of September 30, 2024, ICE Clear Europe held £4.5 billion ($6.1 billion based on the pound sterling/U.S. dollar exchange rate of 1.3375 as of September 30, 2024) at the Bank of England, or BOE. As of December 31, 2023, ICE Clear Europe held €11 million ($12 million based on the euro/U.S. dollar exchange rate of 1.1037 as of December 31, 2023) at the ECB, £4.6 billion ($5.8 billion based on the pound sterling/U.S. dollar exchange rate of 1.2732 as of December 31, 2023) at the BOE and €10 million ($11 million based on the above exchange rate) at the BOE.
Schedule of Assets Pledged by Clearing Members as Original Margin and Guaranty Fund Deposits | These pledged assets are not reflected in our balance sheets, and are as follows (in millions):
| As of September 30, 2024
| ICE Clear Europe |  | ICE Clear Credit |  | ICE Clear U.S. |  | ICE NGX |  |  | Total
Original margin: |  |  |  |  |  |  |  |  |  |
Government securities at face value | $ | 41,739 |  |  | $ | 33,440 |  |  | $ | 15,613 |  |  | $ | — |  |  |  | $ | 90,792 |
Letters of credit and other | — |  |  | — |  |  | — |  |  | 3,849 |  |  |  | 3,849 |
Emissions certificates at fair value | 1,109 |  |  | — |  |  | — |  |  | — |  |  |  | 1,109 |
ICE NGX cash deposits | — |  |  | — |  |  | — |  |  | 737 |  |  |  | 737 |
Total | $ | 42,848 |  |  | $ | 33,440 |  |  | $ | 15,613 |  |  | $ | 4,586 |  |  |  | $ | 96,487 |
Guaranty fund: |  |  |  |  |  |  |  |  |  |
Government securities at face value | $ | 580 |  |  | $ | 1,336 |  |  | $ | 291 |  |  | $ | — |  |  |  | $ | 2,207 |
| As of December 31, 2023
| ICE Clear Europe |  | ICE Clear Credit |  | ICE Clear U.S. |  | ICE NGX |  |  | Total
Original margin: |  |  |  |  |  |  |  |  |  |
Government securities at face value | $ | 45,698 |  |  | $ | 26,992 |  |  | $ | 13,062 |  |  | $ | — |  |  |  | $ | 85,752 |
Letters of credit and other | — |  |  | — |  |  | — |  |  | 5,006 |  |  |  | 5,006 |
Emissions certificates at fair value | 904 |  |  | — |  |  | — |  |  | — |  |  |  | 904 |
ICE NGX cash deposits | — |  |  | — |  |  | — |  |  | 1,219 |  |  |  | 1,219 |
Total | $ | 46,602 |  |  | $ | 26,992 |  |  | $ | 13,062 |  |  | $ | 6,225 |  |  |  | $ | 92,881 |
Guaranty fund: |  |  |  |  |  |  |  |  |  |
Government securities at face value | $ | 765 |  |  | $ | 1,119 |  |  | $ | 345 |  |  | $ | — |  |  |  | $ | 2,229 |

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