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:
Note: Locally Managed Accounts (LMA) require account configuration via ICE User Administration.
For ICE Futures US, UK, and Canada, TT recommends assigning users to either SMA or LMA. For users wishing to trade both US Futures and ICE UK Futures or ICE OTC products, both SMA and LMA accounts must be set up.
For LMA Canada, the User Setup account number is sent as the “Customer Account Reference ID”. The customer account reference ID is optional for SMA and ICE Futures UK. ICE Futures US and ICE Futures Canada require a customer account reference ID for LMA.
For OTC and CCX products, you must submit orders with an SMA account. The Exchange rejects orders submitted with an LMA account if the product is only available through SMA. ICE does not support LMA configurations for OTC and CCX products -- users must use an SMA account for those products.