
Billions in index CDSs remain at ICEU as clearing shutdown looms
Osttra has migrated 77% of index OI, but the rest is mostly held by clients outside its network

Credit default swap users that clear at Ice Clear Europe are in a race against time to move their index positions to a new central counterparty (CCP) before the service is shut down in October.
Firms that clear CDSs at ICEU have until October 27 to close their existing positions and reopen them at Ice Clear Credit (ICC) in Chicago or LCH’s CDSClear in Paris.
Post-trade firm Osttra is handling the bulk of this activity through its triBalance service. Following a series of migration cycles that
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