Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure, today announced that Intesa Sanpaolo S.p.A., Italy’s leading banking group, has become a clearing participant at ICE Clear Credit, the leading global clearinghouse for credit default swaps.
ICE Clear Credit provides a comprehensive product offering, robust mark-to-market services and state-of-the-art risk management approach. As a clearing participant, Intesa Sanpaolo will have access to industry-leading solutions for clearing Single Name and Index CDS instruments, as well CDS Index Option instruments referencing the major North American and European corporate indices.
“As a valuable and active bank group in Europe, we’re extremely pleased to have Intesa Sanpaolo join as a clearing participant,” said Stan Ivanov, President of ICE Clear Credit. “The addition of Intesa Sanpaolo to the world-class roster of clearing participants delivers further depth to our services and paves the way to extend our offering to Italian financial institutions."
Launched in 2009, ICE Clear Credit clearing solutions offer clearing for more than 500 Single Name and Index CDS instruments referencing corporate and sovereign debt and have reduced counterparty risk exposure by clearing over $283 trillion in two-sided notional amount, with open interest of approximately $2.0 trillion.
For more information about ICE Clear Credit, please visit: https://www.theice.com/credit-derivatives/options.
