About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

ICE to Acquire Clearing Corporation, Strengthens OTC Derivatives Coverage

Subscribe to our newsletter

Following the announcement earlier in the month that IntercontinentalExchange (ICE) would be partnering with the Clearing Corporation (TCC) for its venture into credit derivatives clearing, the exchange operator has announced its intention to acquire the firm. ICE chairman and CEO Jeffrey Sprecher explains that the acquisition is part of ICE’s commitment to developing a market structure in the OTC market.

At the start of October, ICE stated that it would be partnering with TCC, Markit Group and RiskMetrics Group to launch a joint venture in the credit default swap (CDS) clearing space. However, the exchange operator has now decided to purchase the firm, which was established by a consortium of banks and brokers.

Sprecher explains: “We have made a commitment to developing a market structure that reduces risk and increases transparency and capital efficiency in these important global markets, first through our acquisition of Creditex, and now through our planned acquisition of the Clearing Corporation.”

Thus far, both the ICE and TCC boards have approved the memorandums of understanding for the deal, which are now subject to regulatory approval.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: A practical guide to dual UK and EU regulatory reporting as the Temporary Permission Regime comes to a close

The Temporary Permission Regime (TPR) allowing capital markets participants in the European Economic Area (EEA) to continue to operate in the UK post Brexit will be withdrawn by the end of 2023, calling on firms that want to stay in the UK to gain full authorisation from the FCA and prepare to comply with both...

BLOG

Alveo expands data partnership with SIX

Alveo, a cloud-based market data integration, analytics and Data-as-a-Service (DaaS) solutions provider, has expanded its global data coverage and feed integrations with the addition of new content from SIX, including sentiment indicators, tax, and regulatory risk data. SIX data sets covering global security master and historical pricing data are already available to users of Alveo’s...

EVENT

RegTech Summit New York

Now in its 6th year, the RegTech Summit in New York will bring together the regtech ecosystem to explore how the North American capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Regulatory Data Handbook 2022/2023 – Tenth Edition

Welcome to the tenth edition of A-Team Group’s Regulatory Data Handbook, a publication that has tracked new regulations, amendments, implementation and data management requirements as regulatory change has impacted global capital markets participants over the past 10 years. This edition of the handbook includes new regulations and highlights some of the major regulatory interventions challenging...