Fed decision leaves ICE closer to CDS clearing

The application by Intercontinental Exchange (Ice) to become a member of the Federal Reserve System has been approved by the US central bank, overcoming one of the final obstacles preventing the firm from launching its central clearing platform for credit default swaps. The Atlanta-based exchange and its Chicago affiliate The Clearing Corporation (TCC) were granted approval to create a New York registered trust company - Ice US Trust - by the New York State Banking Board on December 3, 2008 as a

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