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IntercontinentalExchange (NYSE: ICE), a leading operator of global markets and clearing houses, announced today that ICE Clear Europe has been named Clearing House of the Year for 2013 by Energy Risk magazine.
An editorial panel at Energy Risk, a leading energy and financial risk management magazine, selected ICE Clear Europe as part of its annual awards. Among the factors considered were strengths in innovation, infrastructure, systems and organization, client service and risk management in the energy sector.
Paul Swann, ICE Clear Europe President and Managing Director, said: "ICE Clear Europe is delighted to receive this award for 2013 which was a significant year in terms of responding to ongoing changes in the regulatory landscape. We take great pride in our innovation and in our ability to respond quickly to meet our customers' needs."
ICE Clear Europe was established in 2008 as the first new clearing house in the UK for over 100 years and at launch, transitioned more than US $16 billion initial margin and 26 million energy contracts from LCH.Clearnet to ICE Clear Europe.
Today, ICE Clear Europe has 69 members and provides multi-asset clearing services for energy and credit derivatives. In connection with the execution of the Clearing Services Agreement with LIFFE Administration and Management and subject to regulatory no-objection, ICE Clear Europe will extend its clearing services to include interest rate, fixed income, foreign exchange, equity and agricultural commodity derivatives. For more information on ICE Clear Europe, please visit https://www.theice.com/clear_europe.jhtml.
