Intercontinental Exchange (Ice)
EU’s late CDS transparency push triggers trader fears
Leaked proposal to shoehorn public disclosure of CDS into Mifir placates Esma, but alarms traders
Refinitiv beefs up term €STR with cleared LCH swaps
Use of OIS transaction prices reflects data-sufficiency worries and euro-market desire for T+1 publication
As Libor ends, credit-sensitive rates face day of reckoning
Iosco to issue compliance verdict on Ameribor and BSBY as transition deadline looms
CCPs mull collateral options amid debt ceiling deadlock
Isda AGM: Raising haircuts and minimum maturities are among measures on the table to avoid a cliff-edge
EU’s gas price caps could ‘kill’ the market, Ice official warns
Isda AGM: Price controls discourage investment and undermine market confidence, Edmonds says
Ice and LCH declare victory as CDS migration nears end
Ice retains lion’s share of positions at shuttered European CDS service, but LCH gets more clients
Initial margin requirements for IR swaps hit record $325bn
CME, Eurex and LCH report aggregate 10% rise in month marred by most severe crisis since 2008
Nasdaq exec criticises VAR models in erratic energy markets
FIA Boca 2023: Model being adopted by rivals is “bad choice” for unpredictable assets, says exchange tech official
Ice exec rejects cloud for critical infrastructure
FIA Boca 2023: SVP Bland “can’t imagine” outsourcing critical infrastructure; DRW’s Wilson warns of concentration risk
Rival TTF futures a threat to liquidity, fear energy traders
Plans by Ice and EEX to dodge EU price cap risk fragmenting the gas market
Ice Clear Credit may face Esma review as euro CDSs migrate to US
Upgrade in systemic status would depend on extent of migration from UK-based Ice Clear Europe
Ice’s threat to move gas futures trading deemed credible
Experts warn Ice’s track record adds weight to its warning the products could move out of the EU due to the price cap
EC forges ahead with commodity default fund split plans
New rules expected to require Ice Clear Europe to push commodity derivatives into separate fund
European exchanges warn on ‘damaging’ TTF price cap
EEX and Ice warn of widespread distortion as ECB prepares to assess financial stability impact of proposed cap
EC urged to reconsider TTF price cap
“Heated” discussion among European energy ministers throws planned safeguards into further chaos
FCA proposes using CME’s term SOFR for synthetic US Libor
IBA agrees to use rival’s ARRC-endorsed benchmark to avoid bifurcating the market
Concern over sluggish adoption of ESG futures
While the number of products is on the rise, very few have underlying liquidity
Battle lines drawn as exchanges launch €STR futures
CME is betting its three-month contracts will give it an edge over Ice’s one-month version
EC circuit breaker plan for energy futures under fire
Market participants say proposals could instead lead to more volatility in front-month contracts
Gilt volatility to live on in IM and capital models
Even if sterling rates vol subsides, it will impact interest rate and cross-currency swap costs for years
Ice to accept EUAs as collateral
Emissions certificates accepted to offset short EUA futures positions, subject to 14-day comment period
PGIM increases credit hedges as funds add bought index CDSs
Counterparty Radar: Morgan Stanley added market share, but Goldman stayed top among dealers
Ice Credit’s required initial margin up 18% in Q2
CCP reported highest level on record, superseding Covid-19-induced peak
Goldman retakes top dealer spot in single-name CDS trades
Counterparty Radar: Pimco, Ice increase market share as volumes decline