ICE Clearing Houses Recognized as Most Innovative; ICE Clear Europe and ICE Trust Receive FOW Awards for Innovation 2009
October 29 2009 - 10:11AM
PR Newswire (US)
NEW YORK, Oct. 29 /PRNewswire-FirstCall/ --
IntercontinentalExchange (NYSE:ICE), a leading operator of
regulated global futures exchanges, clearing houses and
over-the-counter (OTC) markets, today announced that ICE Clear
Europe and ICE Trust were awarded Best Innovation by a Clearing
House, Europe, Middle East and Africa and Best Innovation by a
Clearing House, Americas respectively by FOW, a leading global
derivatives publication. (Logo:
http://www.newscom.com/cgi-bin/prnh/20090727/CL51999LOGO ) The FOW
Awards for Innovation were created to recognize industry
initiatives that have demonstrated innovation and a beneficial
effect on markets. Winners were selected by a judging panel
comprised of European and North American derivatives market
participants. In the article accompanying the awards announcement,
which appears in the magazine's November issue, FOW stated: "Their
work seems like a large step forward toward transparency in the CDS
market. Additionally, the risk management framework may go a long
way in helping to offset systemic risk possibilities. Indeed, ICE's
clearing houses for credit default swaps, were created specifically
in response to a regulatory demand to derisk the market." Chuck
Vice, ICE President and Chief Operating Officer, said: "ICE is
honored to receive these awards in a year that required
unprecedented changes in risk management practices. We were please
to take a leadership role in working with global market
participants to implement the first global clearing solution for
credit derivatives. We take pride in innovation and our ability to
enhance the marketplace, and would like to acknowledge Atos
Euronext Market Solutions (AEMS) for its contribution to our
successful transition to ICE Clear Europe. We would also like to
commend Shearman & Sterling for their well-deserved recognition
as recipients of FOW's Most Innovative Work by a Law Firm award,
for the firm's work supporting the establishment of both ICE Clear
Europe and ICE Trust." 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 Link(TM),
respectively, and CDS clearing through ICE Trust(TM) 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/CL51999LOGO
http://photoarchive.ap.org/ DATASOURCE: IntercontinentalExchange
CONTACT: 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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