CHICAGO, Oct. 20, 2011
/PRNewswire/ --IntercontinentalExchange, Inc. (NYSE:
ICE), a leading operator of regulated global futures
exchanges, clearing houses and over-the-counter (OTC)
markets, announced today that ICE Clear Credit will
launch clearing of Latin American sovereign credit
default swaps (CDS) this month. ICE Clear Credit is the
first central counterparty to clear sovereign CDS.
(Logo: http://photos.prnewswire.com/prnh/20090727/CL51999LOGO
)
As the primary regulator for single-name CDS, the SEC
has
granted regulatory approval for clearing of sovereign
CDS of Argentina, Brazil,
Mexico and Venezuela. Clearing
will launch for Brazil and
Mexico on October 31, 2011. ICE
Clear Credit expects to launch clearing of
Argentina and Venezuela in the
following weeks.
"Sovereign CDS are some of the most actively traded
CDS products today. We are pleased to extend our clearing
capabilities to sovereign CDS, which furthers our
objective of meeting the needs of market participants and
reducing systemic risk," said ICE Clear Credit
President Christopher Edmonds.
Data for all ICE CDS clearing activity, including
sovereign single names, is available in the
ICE Report Center.
ICE Clear Credit, the world's first CDS clearing
house, was established in March 2009.
Together with ICE Clear Europe, ICE Clear Credit brings a
common infrastructure to global CDS market participants
within their respective regulatory jurisdictions, while
leveraging clearing systems and risk management processes
already in use by the industry. ICE's CDS clearing
operations are designed to address the operational and
risk management needs of the credit market, as well as
calls by regulators and policy makers for transparency,
standardization and systemic risk reduction. ICE Clear
Credit is a Commodity Futures Trading Commission
regulated Derivatives Clearing Organization and
Securities and Exchange Commission regulated Securities
Clearing Agency.
About IntercontinentalExchange
IntercontinentalExchange (NYSE: ICE) is a leading
operator of regulated futures exchanges and
over-the-counter markets for agricultural, credit,
currency, emissions, energy and equity index contracts.
ICE Futures Europe hosts trade in half of the world's
crude and refined oil futures. ICE Futures U.S. and ICE
Futures Canada list agricultural, currencies and Russell
Index markets. ICE is also a leading operator of central
clearing services for the futures and over-the-counter
markets, with five regulated clearing houses across
North America and Europe. ICE
serves customers in more than 70 countries. www.theice.com
The following are trademarks of IntercontinentalExchange,
Inc. and/or its affiliated companies:
IntercontinentalExchange, ICE, ICE and block design. All
other trademarks are the property of their respective
owners. For more information regarding registered
trademarks owned by IntercontinentalExchange, Inc. and/or
its affiliated companies, see https://www.theice.com/terms.jhtml
Safe Harbor Statement under the Private Securities
Litigation Reform Act of 1995 - Statements in this press
release regarding IntercontinentalExchange's business
that are not historical facts are "forward-looking
statements" that involve risks and uncertainties.
For a discussion of additional risks and uncertainties,
which could cause actual results to differ from those
contained in the forward-looking statements, see
ICE's Securities and Exchange Commission (SEC)
filings, including, but not limited to, the risk factors
in ICE's Annual Report on Form 10-K for the year
ended December 31, 2010, as filed with the
SEC on February 9, 2011 and ICE's
Quarterly Report on Form 10-Q for the quarter ended
June 30, 2011, as filed with the SEC on
August 3, 2011.
ICE-CDS
SOURCE IntercontinentalExchange, Inc.
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