21 July 2018
Visit www.gemalto.com

ICE introduces clearing for emerging markets CDS indexes

24 July 2012  |  1911 views  |  0 Source: IntercontinentalExchange

IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets, has launched clearing for emerging markets credit default swap (CDS) indexes.

ICE Clear Credit, ICE's North American CDS clearing house, is the first to offer real-time, trade-date clearing of the Emerging Markets CDS index (CDX.EM) for buyside and dealer-to-dealer trades. The launch of CDX.EM series 16 and 17 augments the list of over 40 cleared North American indexes available for client clearing at ICE.

In October 2011, ICE Clear Credit became the first central counterparty to clear sovereign CDS with the introduction of Argentine, Brazilian, Mexican and Venezuelan single names. CDX.EM is comprised of 15 sovereigns, including the four already cleared by ICE Clear Credit.

"We continue to work closely with all stakeholders to expand the range of clearable credit derivatives. The addition of clearing for the emerging markets index offers market participants additional risk management tools," said ICE Clear Credit President Christopher Edmonds.

In the first weekly clearing cycle for the two CDX.EM series, $14.5 billion gross notional value was cleared and open interest stands at $2.7 billion. Daily clearing launched this week for buyside and dealer-to-dealer transactions.

With over 330 North American and European CDS indexes and single names available for clearing, ICE provides a robust CDS risk management model and open access for all market participants. ICE has cleared over $32 trillion gross notional value globally and is the market leader in CDS product coverage. 

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
Visit http://go.jumio.com/finextraAdVisit https://secure.vasco.comVisit info.nice.com

Who is commenting?

Top topics

Most viewed Most shared
Calmejane quits Lloyds Bank to join SocGenCalmejane quits Lloyds Bank to join SocGen
13082 views comments | 6 tweets | 7 linkedin
Hong Kong plans September go-live for blockchain-based trade financeHong Kong plans September go-live for bloc...
10691 views comments | 9 tweets | 17 linkedin
Mastercard enlists Worldpay to push Vocalink's Pay by Bank appMastercard enlists Worldpay to push Vocali...
9858 views 19 comments | 15 tweets | 30 linkedin
IBM to test dollar-pegged 'stablecoin'IBM to test dollar-pegged 'stablecoin'
6968 views comments | 4 tweets | 14 linkedin
Bringing about new systems and faster payments globallyBringing about new systems and faster paym...
6809 views comments | 2 tweets | 7 linkedin

Featured job

Competitive base, double ote, benefits
New York City, NY USA

Find your next job