Nomura, the global investment bank, today announces that it has been approved as a CDS clearing member of ICE Clear Europe, effective immediately.
Nomura is the only member of ICE Clear Europe to represent the Asia region and is one of 13 financial institutions to gain membership to date. By clearing credit derivatives through ICE Clear Europe, Nomura’s clients benefit from reduced counterparty credit and operational risk and more secure collateral handling procedures.
“Nomura’s partnership with ICE Clear Europe demonstrates its commitment to creating more efficient markets, enabling greater liquidity and providing transparency for all,” said Georges Assi, Co-Head of Fixed Income, EMEA and Global Head of Credit at Nomura. “This represents another significant milestone in Nomura’s mission to become a dominant force in the global credit derivatives market,” he added.
ICE Clear Europe has cleared over $1.14 trillion of notional value since the launch of its CDS clearing services in July 2009. Nomura aims to clear 95 per cent of eligible CDS through central clearing counterparties, confirming to the market that it is fully focused on the growth and global reach of its Fixed Income franchise.
The successful admission to ICE Clear Europe provides Nomura with a platform to further its commitment to central clearing of credit derivatives, harnessing its strong position in Asia while also developing its growing franchise in Europe and the US.
