* Iodine (I) typically has a valence of -1, meaning it gains one electron to achieve a stable octet.
* Chlorine (Cl) also typically has a valence of -1, meaning it gains one electron to achieve a stable octet.
Since both elements have the same valency, they will combine in a 1:1 ratio to form a neutral compound. This means there will be one iodine atom for every one chlorine atom.
The formula for this compound is ICl (iodine monochloride).