21 January 2018
visit http://response.ncr.com

ICE Clear Credit recognised under Emir

30 September 2016  |  3734 views  |  0 Source: IntercontinentalExchange

Intercontinental Exchange (ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced that ICE Clear Credit was recognized as a third-country central counterparty (CCP) for products regulated by the U.S. Commodity Futures Trading Commission (CFTC) in accordance with the European Market Infrastructure Regulation (EMIR).

Additionally, the European Securities and Markets Authority (ESMA) gave further relief for security-based swaps, which are regulated by the Securities Exchange Commission, while they work toward an equivalence determination.

“The global CDS market is utilized by customers around the world including Europe, the U.S. and Asia. ESMA’s recognition of ICE Clear Credit will allow us to continue to provide capital efficient clearing services that support our customers’ risk management activities by delivering portfolio benefits for index and single name instruments,” said Stan Ivanov, President of ICE Clear Credit.

Launched in 2009, ICE Clear Credit offers almost 600 single name and index CDS instruments based on corporate and sovereign debt across North America, Europe and the Asia-Pacific. ICE’s CDS clearing houses have reduced counterparty risk exposure by clearing over $80 trillion in gross notional amount of CDS instruments since inception, with resulting open interest of $1.5 trillion.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comvisit www.fivedegrees.nlvisit www.vasco.com

Top topics

Most viewed Most shared
Europe begins Open Banking era in subdued styleEurope begins Open Banking era in subdued...
12668 views comments | 33 tweets | 38 linkedin
BofA leads on blockchain patentsBofA leads on blockchain patents
8043 views comments | 12 tweets | 12 linkedin
Standard Chartered establishes fintech innovation and investment unitStandard Chartered establishes fintech inn...
7902 views comments | 14 tweets | 14 linkedin
hands typing furiouslyFintech Adoption is About People, Not Tech
6988 views 1 | 6 tweets | 2 linkedin

Featured job

Competitive
Germany, Austria or Switzerland

Find your next job