IntercontinentalExchange (NYSE: ICE), a leading operator of regulated global futures exchanges, clearing houses and over-the-counter (OTC) markets, announced today that ICE Clear Credit, formerly known as ICE Trust, cleared its first trades as a CFTC-regulated Derivatives Clearing Organization (DCO) and SEC-regulated Securities Clearing Agency (SCA).
ICE Clear Credit completed its transition to a CFTC-regulated Derivatives Clearing Organization (DCO) and SEC-regulated Securities Clearing Agency (SCA) as required by the Dodd-Frank Wall Street Reform and Consumer Protection Act on July 16.
"We appreciate the hard work of market participants across the industry to implement the changes required by Dodd-Frank and we are pleased to count on the strong support of our new FCM Clearing Participants and clients as evidenced by the number of firms which cleared transactions on Monday," said ICE Clear Credit President Chris Edmonds. "And we are pleased to operate an open access clearing house that supports connectivity to multiple execution platforms."
Clients who cleared under the new structure on July 18, 2011 included the following:
Anchorage Capital Group L.L.C. - executed on the Tradeweb platform
BlueMountain Capital Management
Fore Research & Management LP
Gracie Credit Opportunities Fund
FCM Clearing Participants:
Barclays Capital Inc.
Citigroup Global Markets Inc
Deutsche Bank Securities Inc
Goldman, Sachs & Co.
J.P. Morgan Securities LLC
Merrill Lynch, Pierce, Fenner & Smith, Incorporated
Morgan Stanley & Co. LLC
UBS Securities LLC