
Law
The contract is governed by English law and includes provisions
regarding force majeure, trade emergency and embargoes.
CLEARING AND REGULATION
Clearing
LCH guarantees financial performance of all IPE contracts regis-
tered with it by its clearing Members. All IPE Floor Member com-
panies are either members of LCH, or have a clearing agreement
with a Floor Member who is a member of LCH.
Regulation
The IPE is regulated in the UK by the Financial Services Authority
(FSA) as a recognised investment exchange (RIE) under Part XVIII
of the Financial Services and Markets Act 2000 (FSMA). Further,
in April 2003, the IPE received no-action relief ...