Here's why:

* Iodine (I): Iodine is in group 17 of the periodic table, meaning it has a tendency to gain one electron to form an anion with a -1 charge (I⁻).

* Chlorine (Cl): Chlorine is also in group 17 and has a similar tendency to gain one electron to form an anion with a -1 charge (Cl⁻).

However, in this compound, iodine is more electronegative than chlorine, meaning it has a stronger pull on the shared electrons in the bond. Therefore, iodine acts as the cation with a +1 charge (I⁺) and chlorine acts as the anion with a -1 charge (Cl⁻).

This results in the formula ICl, where the charges cancel out.