Ice to compete with CME and LCH.Clearnet on FX clearing

Competition in forex clearing intensifies as LCH.Clearnet receives regulatory approval and Ice explains how its rival offering will differentiate itself


The IntercontinentalExchange (Ice) plans to launch a clearing service for over-the-counter foreign exchange instruments this year, putting it head to head with rivals CME Group and LCH.Clearnet.

The platform will initially cover non-deliverable forwards (NDFs), and is scheduled for launch in the second quarter, having been in development for about 18 months.

"We have spent about a year-and-half putting this service together, and we wanted to wait to announce until we knew we would have a

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