ICE Clear Europe goes live
London-based energy exchange ICE Futures Europe yesterday successfully switched its clearing operations from LCH.Clearnet to is own ICE Clear Europe clearing house.
Open positions in energy futures and OTC markets, equivalent to 28.5 million contract sides, were transferred. The total margin requirement now managed by ICE Clear Europe for these novated positions is approximately $16.5 billion.
Paul Swann, president of ICE Clear Europe, says there is now enormous demand for cleared energy contracts, while ICE Futures president and COO David Peniket says the
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