markets. ICE Futures U.S. holds licenses to use various trademarks of Russell for the U.S. futures and options contracts. Its Russell license is exclusive through June 30, 2017. Regulation The company’s U.S. futures contracts are listed on ICE Futures U.S., which is subject to extensive regulation by the CFTC under the Commodity Exchange Act. In its U.S. CDS clearing business, ICE Clear Credit is subject to the regulation of the CFTC as a DCO and the SEC as a clearing agency. ICE Clear Credit is also subject to Federal Reserve oversight as a result of being designated a designated systemically financial market utility. ICE Clear Europe, which is primarily regulated in the U.K by the FSA as a Recognized Clearing House, is also subject to regulation by the CFTC as a DCO and the SEC as a clearing agency. In the U.K, the company operates various subsidiary entities that are subject to regulation by the FSA. ICE Futures Europe is recognized as a U.K. investment exchange and ICE Clear Europe is recognized as a U.K. clearing house by the FSA in accordance with the Financial Services and Markets Act 2000. ICE Futures Canada’s operations are subject to extensive regulation by the MSC under the CFA. In addition, ICE Futures Canada is also recognized by the MSC as a self-regulatory organization and is required to institute and maintain detailed rules and procedures to fulfill its obligations. ICE Futures Canada’s operations are also subject to oversight by other provincial securities commissions, including the Ontario Securities Commission and the Autorité des marchés financiers in Québec. Competition The company’s primary competitors include CME Group Inc.; GFI Group Inc.; Tullet Prebon plc; ICAP plc; and the European Energy Exchange. History IntercontinentalExchange, Inc. was founded in 2000.