The clearing house conducts all futures business,
including the tendering (delivery) of physicals under the terms of the futures
contract. Usually set up as a corporation, separate and independent from the
exchange, the clearing house guarantees and settles all exchange trades. Through
its system of financial safeguards and transaction guarantees, the clearing
house protects the interests of the trading public, members of the exchanges and
the clearing members of the clearing corporation.
ICE Clear U.S. or 'Clearing Corporation' is the
designated clearing house for ICE Futures U.S. - i.e. for the New York arabica
and robusta contracts. Although an ICE Futures U.S. subsidiary, ICE Clear U.S.
has its own separate membership, Board of Directors, elected officers and
operating staff.
In London the clearing house is owned by leading
banks.