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

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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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