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IntercontinentalExchange, Inc. (NYSE: ICE), a leading operator of regulated global futures exchanges, clearing houses and over-the-counter (OTC) markets, announced today that ICE Clear Credit will launch clearing of Latin American sovereign credit default swaps (CDS) this month. ICE Clear Credit is the first central counterparty to clear sovereign CDS.
As the primary regulator for single-name CDS, the SEC has granted regulatory approval for clearing of sovereign CDS of Argentina, Brazil, Mexico and Venezuela. Clearing will launch for Brazil and Mexico on October 31, 2011. ICE Clear Credit expects to launch clearing of Argentina and Venezuela in the following weeks.
"Sovereign CDS are some of the most actively traded CDS products today. We are pleased to extend our clearing capabilities to sovereign CDS, which furthers our objective of meeting the needs of market participants and reducing systemic risk," said ICE Clear Credit President Christopher Edmonds.
Data for all ICE CDS clearing activity, including sovereign single names, is available in the ICE Report Center.
