ICE Clear Europe receives Recognition as a Third Country Central Counterparty under EMIR
Intercontinental Exchange (NYSE: ICE) announced that ICE Clear Europe has been recognized by the European Securities and Markets Authority (ESMA) as a third country central counterparty under the European Markets Infrastructure Regulation (EMIR). This recognition will be effective once the transition arrangement between the UK and EU concludes. Currently, ICE Clear Europe clears around four million contracts daily across various asset classes, playing a crucial role in limiting counterparty credit risk.
- Recognition by ESMA enhances ICE Clear Europe's position as a central counterparty.
- Facilitates ongoing access for EU market participants to global markets cleared at ICE Clear Europe.
- None.
LONDON--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE: ICE), a leading operator of global exchanges and clearing houses and provider of mortgage technology, data and listings services, announces that ICE Clear Europe, ICE’s London-based clearing house, has been recognized by the European Securities and Markets Authority (ESMA), the European Union (EU) securities markets regulator, as a third country central counterparty in accordance with the European Markets Infrastructure Regulation (EMIR). This recognition will take effect once the transition arrangement between the United Kingdom and EU ends.
“This recognition helps ensure that EU market participants can continue to access global markets cleared at ICE Clear Europe once the transition arrangement ends,” said Hester Serafini, President of ICE Clear Europe. "We appreciate ESMA’s efforts and for providing this recognition”.
With approximately four million contracts cleared every day across multiple asset classes, ICE Clear Europe acts as a central counterparty that becomes the buyer to every seller and the seller to every buyer for its clearing members. Through this central counterparty function, ICE Clear Europe provides financial security for each transaction for the duration of the position by limiting counterparty credit risk. ICE Clear Europe clears futures and options contracts for interest rates, equity index futures, energy products, agricultural products and credit default swaps.
About Intercontinental Exchange
Intercontinental Exchange (NYSE: ICE) is a Fortune 500 company formed in the year 2000 to modernize markets. ICE serves customers by operating the exchanges, clearing houses and information services they rely upon to invest, trade and manage risk across global financial and commodity markets. A leader in market data, ICE Data Services serves the information and connectivity needs across virtually all asset classes. As the parent company of the New York Stock Exchange, the company is the premier venue for raising capital in the world, driving economic growth and transforming markets.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located at http://www.intercontinentalexchange.com/terms-of-use. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2019, as filed with the SEC on February 6, 2020.
Source: Intercontinental Exchange
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