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 Joins Eurex and LCH.Clearnet in Bid for European CDS CCP Supremacy

Subscribe to our newsletter

Following the announcement by LCH.Clearnet last week of its bid to enter the European credit default swap (CDS) clearing counterparty (CCP) market, IntercontinentalExchange (ICE) has indicated its own intentions to establish a transatlantic model for the market. The ongoing furore surrounding splitting CDS clearing between Europe and the US would therefore become a non-issue, according to ICE.

The European Commission and the European Central Bank (ECB) have been vigorously campaigning for the introduction of a European specific clearer but these proposals have been met with criticism from those concerned about splitting dollar clearing from euro. Players such as the International Swaps and Derivatives Association (ISDA) and the Futures and Options Association (FOA) have indicated that they believe regional clearing to be a costly and counterproductive measure.

ICE is already relatively set to launch its US-based CDS CCP this year and the European version would use its existing London-based clearer, ICE Clear Europe, and extend its remit to CDSs. According to the exchange operator, it is currently in talks with the UK Financial Services Authority (FSA) to do just that.

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: ESG data sourcing and management to meet your ESG strategy, objectives and timeline

Date: 11 June 2024 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes ESG data plays a key role in research, fund product development, fund selection, asset selection, performance tracking, and client and regulatory reporting, yet it is not always easy to source and manage in a complete, transparent and timely manner....

BLOG

Understanding the Value of Global Identifiers in the Fight Against Financial Crime

By Clare Rowley, Head of Business Operations, GLEIF. Money laundering and terrorist financing create significant systemic risks in the global financial system. The intricate webs spun by fraudsters and criminals to evade detection crisscross national borders and legal jurisdictions, commonly exploiting multiple financial institutions and legal entities. In today’s instant digital economy, this is exposing...

EVENT

TradingTech Briefing New York

Our TradingTech Briefing in New York is aimed at senior-level decision makers in trading technology, electronic execution, trading architecture and offers a day packed with insight from practitioners and from innovative suppliers happy to share their experiences in dealing with the enterprise challenges facing our marketplace.

GUIDE

Regulatory Data Handbook 2023 – Eleventh Edition

Welcome to the eleventh edition of A-Team Group’s Regulatory Data Handbook, a popular publication that covers new regulations in capital markets, tracks regulatory change, and provides advice on the data, data management and implementation requirements of more than 30 regulations across UK, European, US and Asia-Pacific capital markets. This edition of the handbook includes new...