ATLANTA & NEW YORK--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, announced today that two of its clearing houses received awards from Risk and FOW for excellence in clearing.
ICE Clear Credit won Risk’s 2018 Clearing House of the Year award for the strong progress it has made in growing clearing for credit default swaps (CDS) and enhancing the risk framework for these instruments. In addition, at the FOW International Awards Gala Dinner last night, ICE Clear US won FOW's 2017 CCP of the Year award for its innovative work in launching new products and implementing new recovery and resolution rules. ICE was also recognized by FOW for most innovative new contract for Eris LIBOR futures.
“We’re honored to be recognized by both Risk and FOW,” said Intercontinental Exchange CFO, Scott Hill. “ICE is a leading provider of tools and information for price discovery and risk valuation, and our global network of clearing houses provides customers with the confidence, flexibility and robust technology to manage risk in global markets.”
Through November, ICE Clear Credit had cleared notional CDS client single name clearing of $360 billion, compared to $190 billion in all of 2016. In 2017, ICE Clear Credit launched financial corporate single name CDS and is the only clearing house to offer clearing of U.S., European and Asia Pacific financial corporations and sovereign instruments. ICE Clear Credit also received approval to implement new recovery and resolution rules, a key part of the decision for the Risk award, which is beneficial for member and client risk exposure.
In 2017, ICE Clear US launched the NYSE FANG+ Index futures contract, as well as daily gold and silver contracts providing an innovative way to broaden participation in the gold and silver auctions administered by ICE Benchmark Administration. ICE Clear US also received approval to implement new recovery and resolution rules to further enhance the resilience of the markets it serves.
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.
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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