Ice Trust gets green light for clearing house

Derivatives exchange IntercontinentalExchange (Ice) launched its credit default swap central clearing platform on March 9 after receiving approval from the SEC.

Ice Trust, a New York limited liability trust company set up by Ice for clearing CDS trades, had already received approvals from the Superintendent of the New York State Banking Department on March 5 and the Federal Reserve Board of Governors on March 4.

Ice Trust will initially clear trades linked to series 10 and 11 of the Markit CDX

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