Ice considers moving Brent contract to avoid EU margin hike

Ice could move its benchmark Brent crude futures contract from London to New York if clearing members refuse to soak up the extra margin costs associated with Europe's new clearing rules. Moving to another jurisdiction would enable users of the contract to benefit from lighter margin requirements.

"It's not an outcome we want to see, but as you'd understand, it's in the market's interest and our interest to be prepared for that outcome," says Paul Swann, president of Ice Clear Europe in London.