Ice to clear single-name bank CDSs from April 10

US participants will be able to start clearing CDSs referencing Ice clearing members

Green light: the service will finally allow US clearing of single-name CDSs on financials

Intercontinental Exchange (Ice) intends to launch US clearing of single-name credit default swaps (CDSs) referencing clearing member banks on April 10, can confirm.

The Atlanta-based exchange’s Ice Clear Credit service will offer central clearing for CDS contracts written on financial institutions that are direct clearing members of the central counterparty (CCP) after originally postponing an expected roll-out in mid-March.

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