Ice tees up CDS options launch for November 9

Fight for CDS market share heats up as Ice begins clearing options and LCH preps CDX offering

Stock market chart

Ice is set to launch clearing of credit default swap index options contracts on November 9 – a long-awaited move that pitches the central counterparty (CCP) into direct competition with LCH in a key market for hedgers.

From Monday, Ice Clear Credit will clear options on the CDX North American Investment Grade and High Yield indexes. Ice is aiming to add options on iTraxx Europe indexes in 2021.

The launch of CDS options clearing at Ice has been long touted and delayed, with the first quarter

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