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ICE Futures Granted 1256 Benefits  


Author:  Staff Editors.


Source: Volume 21, Number 01, September/October 2007 , pp.50-54(5)




Journal of Taxation and Regulation of Financial Institutions

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Abstract: 

In PLR 200726006, the IRS determined that a UK Recognised Investment Exchange offering electronic trading in energy commodity derivatives contracts was a qualified board or exchange within the meaning of Section 1256(g)(7)(C). The IRS also issued Rev. Rul. 2007-26, designating ICE Futures as a qualified board or exchange under Section 1256(g)(7)(C). Though ICE Futures was not referenced in the PLR under the Service’s confidentiality policy, it is apparent from the facts that the two rulings concern the same entity.

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