Intercontinental Exchange (NYSE:ICE), the leading global network of exchanges and clearing houses, announced today that ICE Clear Singapore has been recognised as a third-country central counterparty (CCP) in accordance with the European Market Infrastructure Regulation (EMIR).
“The EMIR recognition by the European Securities and Markets Authority (ESMA) allows ICE Clear Singapore to provide clearing services to European firms. This is a significant milestone,” said Lucas Schmeddes, President & COO, ICE Futures Singapore and ICE Clear Singapore. “We continue to work with market participants as we prepare for our launch on November 17.”
Regulated by the Monetary Authority of Singapore, ICE Clear Singapore has been added to ESMA’s list of recognised third-country CCPs under EMIR following the European Commission’s assessment of Singapore as an equivalent third country regime in October 2014.