Since the revision of the 1998 ICC Arbitration Rules and the entering into force of the 2012 ICC Arbitration Rules on January 1, 2012, ICC arbitration has changed. The contribution highlights several important innovations, and explains their meaning as well as the intention behind the change. Furthermore, an analysis is given of the extent to which the 2012 ICC Arbitration Rules limit, allow for, and even promote party autonomy. Light is shed on the development of the 2012 ICC Arbitration Rules, their applicability ratione temporis, on which mandatory and dispositive requirements have been established for the Request and the Answer’s content and how compliance with those requirements may assist to save time and cost. In addition, the new provisions on multi-party and multi-contract arbitration, the case techniques for more efficient case management introduced by the 2012 ICC Arbitration Rules and the new Emergency Arbitrator will be discussed.