Ice receives CFTC clearing registration
IntercontinentalExchange (Ice) has been granted limited registration by the Commodity Futures Trading Commission (CFTC) as a US derivatives clearing organisation (DCO).
The designation was awarded to Ice Clear Europe under section 5b(b) of the Commodity Exchange Act. As a registered DCO, it will be authorised to clear futures contracts, options on futures contracts, commodity options and over-the-counter derivatives. Ice Clear Europe clears energy-based contracts and credit default swap contracts on European reference entities.
"DCO registration acknowledges our adherence to core principles, and offers flexibility and confidence to our member firms," says Paul Swann, president of Ice Clear Europe. "We appreciate the work of the Commission in granting this order."
Based in London, Ice Clear Europe is regulated by the UK Financial Services Authority as a recognised clearing house.
As one of five regulated clearing houses operated by Ice, Ice Clear Europe has served the futures markets of Ice Futures Europe and Ice's OTC energy markets since it was established in November 2008.
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