Wall Street & Technology is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Data Management

09:58 AM
Connect Directly

ICE Trust Europe to Clear European Credit Default Swaps

The IntercontinentalExchange (ICE) announced that its London-based clearing house ICE Clear Europe will launch a new service, called ICE Trust Europe.

ICE Trust Europe will act as a European-regulated central-counterparty clearing house for European credit default swap transactions.

ICE Trust Europe will operate with a segregated risk pool and dedicated risk management systems for the European credit derivatives market. Subject to regulatory approval, ICE Trust Europe is expected to be operational in the first half of 2009.

"We will continue to work with European regulators and the CDS community to construct central clearing and margining systems for this global and vital marketplace," said Paul Swann, President and COO of ICE Clear Europe in a statement.

He added, "Our aim is to improve the soundness and transparency of the CDS markets, regardless of physical or political borders. We will continue to leverage our domain knowledge in both CDS and clearing as we work with regulators and industry participants to develop a comprehensive European solution." ICE C

Register for Wall Street & Technology Newsletters
5 Things to Look For Before Accepting Terms & Conditions
5 Things to Look For Before Accepting Terms & Conditions
Is your corporate data at risk? Before uploading sensitive information to cloud services be sure to review these terms.