ICE Crosses $3 Trillion Mark in Cleared CDS Transactions
October 05 2009 - 9:52AM
PR Newswire (US)
NEW YORK, Oct. 5 /PRNewswire-FirstCall/ --
IntercontinentalExchange® (NYSE:ICE), a leading operator of
regulated global futures exchanges, clearing houses and
over-the-counter (OTC) markets, announced that its global clearing
houses have surpassed the $3 trillion mark in notional value for
cleared credit default swap (CDS) contracts. (Logo:
http://www.newscom.com/cgi-bin/prnh/20090727/CL51999LOGO) For the
week ending October 2, ICE Clear Europe® cleared a record 136
billion euro ($200 billion) in European CDS index (iTraxx)
contracts. Since its CDS clearing launch in July, ICE Clear Europe
has cleared 514 billion euro ($750 billion), and has open interest
of 64 billion euro ($93 billion). ICE Trust U.S. (ICE TrustTM)
cleared $91 billion for the week ending October 2. Since its March
launch, ICE Trust has cleared $2.3 trillion in North American CDS
indexes (CDX), with open interest of $190 billion. ICE Trust and
ICE Clear Europe are operationally ready to begin clearing single
name CDS contracts and are working to secure regulatory approvals,
which are expected later this month. Testing for ICE's buy-side CDS
clearing solution is set to begin this month, and is on track to be
operational at the end of October. The solution is expected to
rollout in November, subject to regulatory approval, and in advance
of the December 15 commitment by the industry to regulators. About
IntercontinentalExchange IntercontinentalExchange® (NYSE:ICE)
operates leading regulated exchanges, trading platforms and
clearing houses serving the global markets for agricultural,
credit, currency, emissions, energy and equity index markets. ICE
Futures Europe® hosts trade in half of the world's crude and
refined oil futures. ICE Futures U.S.® and ICE Futures Canada® list
agricultural, currency and Russell Index markets. ICE offers trade
execution and processing for the credit derivatives markets through
Creditex and ICE LinkTM, respectively, and CDS clearing through ICE
TrustTM and ICE Clear Europe®. A component of the Russell 1000® and
S&P 500 indexes, ICE® serves customers in more than 50
countries and is headquartered in Atlanta, with offices in New
York, London, Chicago, Winnipeg, Calgary, Houston and Singapore.
http://www.theice.com/ Safe Harbor Statement under the Private
Securities Litigation Reform Act of 1995 - Statements in this press
release regarding IntercontinentalExchange's business that are not
historical facts are "forward-looking statements" that involve
risks and uncertainties. For a discussion of additional risks and
uncertainties, which could cause actual results to differ from
those contained in the forward-looking statements, see ICE's
Securities and Exchange Commission (SEC) filings, including, but
not limited to, the risk factors in ICE's Annual Report on Form
10-K for the year ended December 31, 2008, as filed with the SEC on
February 11, 2009.
http://www.newscom.com/cgi-bin/prnh/20090727/CL51999LOGODATASOURCE:
IntercontinentalExchange CONTACT: Investor Contacts: Kelly
Loeffler, VP, Investor Relations & Corp. Communications,
+1-770-857-4726, , or Sarah Stashak, Director, Investor &
Public Relations, +1-770-857-0340, , both of
IntercontinentalExchange Web Site: http://www.theice.com/
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