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Article: ICE Futures Designated as a 'Qualified Board or Exchange' by IRS; U.S. Market Participants to Receive 60/40 Tax Treatment.

Article from:
PR Newswire
Article date:
March 29, 2007
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ATLANTA, March 29 /PRNewswire-FirstCall/ -- IntercontinentalExchange , the leading electronic energy marketplace and soft commodity exchange, today announced a revenue ruling from the U.S. Internal Revenue Service (IRS) designating ICE Futures as a "qualified board or exchange," thereby providing "60/40 tax treatment" to U.S. participants trading in ICE Futures markets. ICE Futures, the U.K.-regulated subsidiary of ICE, has a growing customer base in the United States and approval to offer its screens in 46 additional geographic jurisdictions around the globe.

With the designation of ICE Futures as a "qualified board or exchange" under Section 1256 of the ...

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