Thursday, January 7, 2010

ICE clears its first 100 European credit default swaps

(ICE Press Release) Through December 31, ICE's CDS clearing houses have cleared $4.6 trillion in notional value across 56,259 transactions.

Since its inception in March 2009, ICE Trust has cleared $3.3 trillion of notional value, resulting in $232 billion of open interest.

ICE Clear Europe has cleared euro 885 billion ($1.3 trillion) of notional value since its July 2009 launch, resulting in euro 75 billion ($107 billion) of open interest.

On December 14, ICE Clear Europe launched clearing services for European single-name CDS contracts. Through December 31, ICE Clear Europe cleared 100 single- name transactions totaling euro 566 million ($829 million) of gross notional value, with open interest of euro 184 million ($265 million). ICE Clear Europe also announced that BNP Paribas and Nomura were approved as CDS clearing members and began clearing transactions.

On December 21, ICE Trust began clearing North American single-name CDS contracts. Through December 31, ICE Trust cleared 150 single-name transactions totaling $1.3 billion of gross notional value, with open interest of $500 million. ICE Trust is the only clearing house processing single-name CDS in North America.

No comments: