Company Overview of ICE Clear Europe, Ltd.
ICE Clear Europe, Ltd. provides clearing services for ICE Futures Europe and over-the-counter (OTC) energy markets. It performs reconciliation and clearing of futures and options transactions. The company was incorporated in 2007 and is based in London, the United Kingdom. ICE Clear Europe, Ltd. operates as a subsidiary of IntercontinentalExchange Holdings Inc.
60 Chiswell Street
London, EC1Y 4SA
Founded in 2007
Key Executives for ICE Clear Europe, Ltd.
President and Managing Director
Director of CDS Development
Compensation as of Fiscal Year 2013.
ICE Clear Europe, Ltd. Key Developments
ICE Clear Europe Appoints Paul Swann as Managing Director
Nov 13 13
IntercontinentalExchange Group Inc. announced the completion of acquisition of NYSE Euronext. New management team will be appointed. The company announced that Paul Swann will serve as President and Managing Director, ICE Clear Europe.
ICE Clear Europe, Ltd. to Introduce Client Clearing for Index and Single Name CDS
Aug 1 13
ICE Clear Europe, Ltd. announced that ICE Clear Europe will introduce client clearing for European credit default swaps (CDS) after receiving regulatory approval in the U.K. and U.S. The client clearing solution for European CDS is expected to launch on October 7, 2013 and will be available for 43 European index and 121 corporate single name CDS instruments. Twelve clearing members will participate in the pre-launch testing. In the U.S., ICE Clear Credit commenced client clearing in 2009 and has cleared $1.82 trillion in gross notional value for 250 clients to date. ICE brings a proven CDS client clearing model, global OTC clearing expertise and scale to its solution in Europe. Customers will benefit from an industry-leading OTC risk management model, strong independent governance and the world's larger dedicated default fund for CDS. ICE Clear Europe's buy-side clearing solution will include trade-date clearing of index and single name CDS, and provide for segregation of customer funds and enhanced position and margin portability. The client clearing solution permits firms to retain important trading and contractual relationships, including accepting transactions from a range of competitive existing execution models. As the leading middleware and connectivity provider for CDS execution, ICE Link connects dealers, inter-dealer brokers and over 750 buy-side firms, enabling product standardisation and integrated post-trade processing.
ICE Clear Europe, Ltd. Enters into Clearing and Financial Intermediary Services Agreement with LIFFE Administration and Management
Dec 27 12
ICE Clear Europe, Ltd. entered into a Clearing and Financial Intermediary Services Agreement, dated December 20, 2012, with LIFFE Administration and Management, pursuant to which ICE Clear will provide LIFFE central counterparty clearing services and LIFFE will provide ICE Clear certain financial intermediary services. Under the terms and subject to the conditions of the Agreement, LIFFE will appoint ICE Clear as the exclusive provider of central counterparty clearing services for all existing LIFFE products, with such clearing services expected to commence on July 1, 2013, subject to receipt of applicable required regulatory approvals and other conditions. In addition, ICE Clear will appoint LIFFE to provide financial intermediary services in respect of trades in existing LIFFE products. If the commencement of clearing services occurs after July 1, 2013 and such delay is attributable to ICE Clear or to certain other factors, including failure to obtain specified regulatory approvals, ICE Clear may be required to pay certain fees to LIFFE.
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