Intercontinental Exchange Introduces Clearing for High Yield Single Name CDS

ATLANTA & NEW YORK--()--Intercontinental Exchange (NYSE: ICE), the leading global network of exchanges and clearing houses, announced today that ICE Clear Credit, the leading clearing house for credit default swaps (CDS), has launched clearing for non-investment grade, high yield single name CDS instruments.

Intercontinental Exchange was the first to offer CDS single name clearing for both dealers and buy-side clients, beginning in 2009.

“We are pleased to extend our clearing solutions to non-investment grade single name constituents of the high yield index. In clearing these instruments, we are able to offer market participants additional capital efficiencies,” said ICE Clear Credit President Stan Ivanov.

Following the launch of high yield single names, ICE will clear nearly 500 CDS instruments through ICE Clear Credit and its London based clearing house, ICE Clear Europe, including North American, European and emerging market indices as well as sovereign and corporate single names.

Since launching CDS clearing five years ago, ICE has cleared more than $53 trillion in gross notional value of CDS, with open interest today of approximately $1.7 trillion. Fact Sheet

About Intercontinental Exchange

Intercontinental Exchange (NYSE: ICE) is the leading network of regulated exchanges and clearing houses for financial and commodity markets. ICE delivers transparent, reliable and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures and Liffe.

Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE, New York Stock Exchange and LIFFE. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located at https://www.theice.com/terms.jhtml and http://www.nyx.com/terms-use.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 - Statements in this press release regarding ICE'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, 2013, as filed with the SEC on February 14, 2014.

SOURCE: Intercontinental Exchange

ICE-CDS

Contacts

Media Contact:
Intercontinental Exchange
Brookly McLaughlin
+1 312 836 6728
brookly.mclaughlin@theice.com

ICE CDS Clearing: Five Years of Leading Risk Management in the CDS Market (Graphic: Business Wire)

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Contacts

Media Contact:
Intercontinental Exchange
Brookly McLaughlin
+1 312 836 6728
brookly.mclaughlin@theice.com