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 Trust Exceeds US$2 Trillion Mark in Cleared CDS Transactions

Subscribe to our newsletter

IntercontinentalExchange (ICE), an operator of regulated global futures exchanges, clearing houses and OTC markets, announced that ICE Trust US (ICE Trust) has surpassed the US$2 trillion mark in notional value cleared for North American credit default swap (CDS) contracts. For the week ending 11 September, ICE Trust cleared US$41 billion in notional, bringing total cleared volume to just over US$2 trillion since the March 2009 launch. Open interest at ICE Trust is US$187 billion and 24,006 transactions have been cleared to date.

“ICE’s leadership in clearing CDS markets is helping to reduce systemic risk by increasing market transparency and security, and we appreciate the assistance we have received from regulators, clearing members and the buy side community,” said Dirk Pruis, president of ICE Trust. “As the one year anniversaries of the Lehman and AIG crises approach, CDS clearing is playing a significant role in restoring safety and soundness to capital markets.”

In July 2009, ICE Clear Europe began processing European CDS index transactions. Through 11 September, ICE Clear Europe has cleared euro 313 billion (US$447 billion) notional, resulting in open interest of euro 37 billion ($52 billion). On a global basis, ICE has cleared 30,147 transactions totalling nearly US$2.5 trillion in gross notional value, resulting in open interest of US$241 billion. Currently, ICE Trust and ICE Clear Europe are clearing 20 North American CDX index contracts and 12 European iTraxx contracts, respectively. ICE expects to begin clearing single name CDS contracts later this month.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Are you making the most of the business-critical structured data stored in your mainframes?

Fewer than 30% of companies think that they can fully tap into their mainframe data even though complete, accurate and real-time data is key to business decision-making, compliance, modernisation and innovation. For many in financial markets, integrating data across the enterprise and making it available and actionable to everyone who needs it is extremely difficult....

BLOG

GLEIF Begins a New Decade in Growth Mode

The Global Legal Identifier Foundation (GLEIF) enters its second decade this month with its novel system of identifiers for everything from companies and their financial instruments to real assets fast becoming a global standard. While the next five years are expected to see yet more entities join the GLEIF’s open data project, the organisation’s immediate...

EVENT

RegTech Summit London

Now in its 9th year, the RegTech Summit in London will bring together the RegTech ecosystem to explore how the European capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Risk & Compliance

The current financial climate has meant that risk management and compliance requirements are never far from the minds of the boards of financial institutions. In order to meet the slew of regulations on the horizon, firms are being compelled to invest in their systems in order to cope with the new requirements. Data management is...