Intercontinental Exchange Announces Record Notional Cleared for Credit Default Swaps; Launch of New Single Name Contracts on ICE Clear Credit

ATLANTA & NEW YORK--()--Intercontinental Exchange (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, announced record monthly notional value cleared for credit default swaps (CDS) in September, with over $1.75 trillion in gross notional and a daily record of over $450 billion cleared on September 20.

Additionally, ICE Clear Credit, ICE’s U.S.-based CDS clearing house, has launched clearing services for additional single name CDS instruments referencing emerging market and Asia-Pacific corporate and sovereign entities. This launch expands ICE’s CDS footprint and offers customers more diversified risk management services combined with capital and operational efficiencies.

The following single-name CDS are now available for clearing through ICE Clear Credit effective Oct. 2, 2017:

Sovereign single names:

  • Kingdom of Saudi Arabia
  • Republic of Kazakhstan

Corporate single names:

  • Bank of China Limited
  • China Development Bank Corp (expected to be available Oct. 16)
  • Hutchison Whampoa Limited
  • ICICI Bank Limited
  • Macquarie Bank Limited
  • Petroleos Brazileiro S/A Petrobras
  • Petroleos Mexicanos
  • Posco
  • The Export-Import Bank of China
  • The Export-Import Bank of Korea

The introduction of these instruments supports the continued growth in sovereign CDS clearing, with ICE clearing over $390 billion notional volume through September, compared to $268 billion during the same period of 2016.

Launched in 2009, ICE Clear Credit and ICE Clear Europe CDS clearing solutions offer clearing for more than 500 single name and index CDS instruments based on corporate and sovereign debt and have reduced counterparty risk exposure by clearing more than $93 trillion in gross notional, with open interest of approximately $1.6 trillion.

About Intercontinental Exchange

Intercontinental Exchange (NYSE:ICE) is a Fortune 500 company that operates a leading network of global futures, equity and equity options exchanges, as well as global clearing and data services across financial and commodity markets. The New York Stock Exchange is the world leader in capital raising, listings and equities trading.

Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located at www.intercontinentalexchange.com/terms-of-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, 2016, as filed with the SEC on February 7, 2017.

SOURCE: Intercontinental Exchange

ICE-CDS

Contacts

Media Contact:
Damon Leavell
Damon.Leavell@theice.com
212-323-8587
or
Investor Contact:
Warren Gardiner
Warren.Gardiner@theice.com
770-835-0114

Contacts

Media Contact:
Damon Leavell
Damon.Leavell@theice.com
212-323-8587
or
Investor Contact:
Warren Gardiner
Warren.Gardiner@theice.com
770-835-0114