TT supports both ICE account management modes: System Managed Accounts (SMA) and Locally Managed Accounts (LMA), also known as Individual Trader Mnemonics (ITM) accounts. You can select account management properties for both SMA and LMA. The process for establishing a new trader account varies based on the account management mode:

• System Managed Accounts (SMA) — Requires the account to be managed within the ICE System. When setting up SMA:
  • The designated Responsible Individual requests ICE to generate a Trader ID for the new trader.
  • The Responsible Individual requests a new clearing account from the clearing firm through the ICE Credit Management GUI.
  • The Responsible Individual associates the trader to the new clearing account through the ICE Credit Management GUI.
• Locally Managed Accounts (LMA) — Removes the requirement to register each account number with ICE. When setting up LMA:
  • The designated Responsible Individual requests ICE to generate a Trader ID for the new trader.
  • The New Trader submits the ITM Request Form to the ICE Compliance Team.
  • The Clearing Firm may create and assign the clearing account to the new trader. However, this information is not maintained in the ICE Credit Management GUI

Note: Locally Managed Accounts (LMA) may require configuration via the ICE User Administration system.