Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of technology and data, today announced that RBC Capital Markets, LLC (RBC), a subsidiary of Royal Bank of Canada, has joined ICE Clear Credit, the world’s premier clearinghouse for credit default swaps, as a Futures Commission Merchant (FCM) clearing participant.
RBC Capital Markets, LLC, is the first FCM with a Canadian parent company on ICE Clear Credit.
"We are excited to announce the launch of Credit Default Swap clearing on ICE Clear Credit. This builds on our FCM offering and complements our capabilities for Futures and Interest Rate Swaps, deepening our client relationships and providing new growth opportunities,” said Eric Aldous, Head of Futures at RBC Capital Markets.
“We’re pleased to welcome RBC Capital Markets as an FCM at ICE Clear Credit,” said Stan Ivanov, President of ICE Clear Credit. “Their participation reflects the growing demand for resilient and capital efficient risk management services and highlights the critical role central clearing plays in supporting healthy, transparent and competitive markets. As regulatory and capital requirements evolve, we remain committed to providing robust clearing solutions that enhance market integrity and meet the needs of clearing participants worldwide.”
ICE Clear Credit, launched by ICE in 2009 to bring centralized clearing to the CDS market, enables clearing of more than 650 Single Name, Index, and Index Option CDS instruments referencing corporate and sovereign debt. ICE Clear Credit clearing has reduced counterparty risk exposure to trades with a combined notional amount of over $385 trillion, with current open interest at ICE Clear Credit over $2 trillion.
ICE Clear Credit operates the most widely used, most diversified and capital efficient CDS clearing services.
For more information about ICE Clear Credit, please visit: https://www.theice.com/credit-derivatives/options
