IntercontinentalExchange and NYSE Euronext enter clearing services agreement
ICE Clear Europe and Liffe Administration and Management have entered into a clearing services agreement by which ICE Clear Europe will provide clearing services to the London market of NYSE Liffe.
The clearing services agreement will allow NYSE Liffe to transition from its current clearing arrangements.
"We are pleased to extend our innovative and proven clearing services through this agreement with NYSE Liffe. We will draw upon our experience as we work with NYSE Liffe to provide the regulated risk-management tools that NYSE Liffe's customers rely on to compete effectively in an evolving regulatory and economic environment," says Paul Swann, president and managing director, ICE Clear Europe.
"This agreement will enable us to deliver top quality clearing services through a proven futures and OTC clearing house that can securely and efficiently serve our customers, while creating new clearing opportunities," say Finbarr Hutcheson, co-chief executive of NYSE Liffe.
ICE successfully transitioned over 40 clearing members, 26.5 million contracts and over USD16bn worth of assets during the transition from LCH.Clearnet to ICE Clear Europe in 2008.
ICE Clear Europe is the clearing house for ICE's energy and European credit default swaps (CDS) markets.
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