The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

ICE Trust US Passes US$1 Trillion CDS Clearing Milestone

IntercontinentalExchange’s (ICE) ICE Trust US (ICE Trust) has passed the US$1 trillion milestone in cleared credit default swaps (CDS) since operations began on 9 March 2009.

Open interest at ICE Trust currently stands at US$145 billion, representing an 86% reduction in notional value outstanding. ICE Trust also set a weekly clearing record of US$247 billion in notional value for the week ending 12 June on transaction volume of 2,330 contracts. Since its launch, the total number of transactions cleared is 12,050.

The clearing house currently offers clearing for North American CDS indexes. The Federal Reserve and the New York State Banking Department have primary oversight responsibility for ICE Trust, which is also subject to oversight by the Securities and Exchange Commission pursuant to an exemptive order related to clearing CDS.

ICE is planning to expand clearing for buy side participants, add clearing for single name instruments and deliver its European CDS clearing solution in the coming weeks.

Related content

WEBINAR

Upcoming Webinar: Sanctions – The new pre-trade challenge for the buy-side

Date: 22 September 2021 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Sanctions screening at the security level is a relatively recent requirement for the buy-side. It dives deeper than traditional KYC and AML screening and is immensely challenging as firms must monitor frequently changing sanctions lists, source up-to-date sanctions data...

BLOG

Lack of Equivalence Post Brexit Raises Costly Data Management Concerns

The UK has finally left the European Union. A trade deal was wrung out at the eleventh hour, allowing the two sides to trade with zero tariffs and quotas, but the financial services industry has been left hanging – with talk of an MoU around the regulation of financial services being reached by March 2021...

EVENT

TradingTech Summit Virtual

TradingTech Summit (TTS) Virtual will look at how trading technology operations can capitalise on recent disruption and leverage technology to find efficiencies in the new normal environment. The crisis has highlighted that the future is digital and cloud based, and the ability to innovate faster and at scale has become critical. As we move into recovery and ‘business as usual’, what changes and technology innovations should the industry adopt to simplify operations and to support speed, agility and flexibility in trading operations.

GUIDE

Entity Data Management Handbook – Seventh Edition

Sourcing entity data and ensuring efficient and effective entity data management is a challenge for many financial institutions as volumes of data rise, more regulations require entity data in reporting, and the fight again financial crime is escalated by bad actors using increasingly sophisticated techniques to attack processes and systems. That said, based on best...