IntercontinentalExchange offers clearing for high-yield, single CDSs

By Toni Weeks

San Luis Obispo, Calif., June 23 – IntercontinentalExchange, Inc. announced that ICE Clear Credit has launched clearing for non-investment-grade, high-yield single-name CDS instruments.

Following the launch of high-yield single names, ICE will clear nearly 500 CDS instruments through ICE Clear Credit and its London-basing clearing house, ICE Clear Europe, including North American, European and emerging market indexes as well as sovereign and corporate single names.

“We are pleased to extend our clearing solutions to non-investment-grade single-name constituents of the high-yield index,” ICE Clear Credit president Stan Ivanov said in a press release. “In clearing these instruments, we are able to offer market participants additional capital efficiencies.”

Atlanta-based IntercontinentalExchange is a network of regulated exchanges and clearing houses for financial and commodity markets.

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