ICE Clear Europe receives Recognition as a Third Country Central Counterparty under EMIR
September 28 2020 - 5:34AM
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
ICE-CORP
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version on businesswire.com: https://www.businesswire.com/news/home/20200928005308/en/
ICE Media Contact Rebecca Mitchell +44 7951 057351
rebecca.mitchell@theice.com
ICE Investor Contact: Warren Gardiner 770-835-0114
Warren.Gardiner@theice.com
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