Intercontinental Exchange Launches Clearing for Additional Sovereign CDS Instruments

London and Chicago, IL - 5 January 2015

Intercontinental Exchange (NYSE: ICE), the leading global network of exchanges and clearing houses, announced today that ICE Clear Credit and ICE Clear Europe are introducing credit default swap (CDS) clearing for additional sovereign single names, beginning today.

ICE Clear Credit has added Portugal, Ireland, Italy and Spain to its suite of sovereign single names and ICE Clear Europe has added Austria and Belgium. ICE was the first to launch clearing for sovereign CDS in 2011.

ICE’s CDS clearing houses clear more than 500 single name and index CDS instruments based on corporate and sovereign debt. ICE launched the world’s leading CDS clearing houses in 2009 and has reduced counterparty risk exposure by clearing more than $60 trillion in gross notional amount of CDS instruments, with resulting open interest of approximately $1.6 trillion. 

With these additional single names, ICE Clear Credit now clears CDS instruments on 11 sovereign names:

  • Brazil
  • Hungary
  • Ireland
  • Italy
  • Mexico
  • Portugal
  • Russia
  • South Africa
  • Spain
  • Turkey
  • Venezuela

ICE Clear Europe now clears CDS instruments on six sovereign names:

  • Austria
  • Belgium
  • Ireland
  • Italy
  • Portugal
  • Spain

Intercontinental Exchange (NYSE: ICE) is the leading network of regulated exchanges and clearing houses for financial and commodity markets. ICE delivers transparent, reliable and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange and ICE Futures.

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