SEC OKs ICE Clear Europe, Eurex To Clear CDS
July 23 2009 - 6:22PM
Dow Jones News
The U.S. Securities and Exchange Commission said Thursday it has
approved special exemptions to allow ICE Clear Europe Limited and
Eurex Clearing AG to operate as clearinghouses for credit-default
swaps.
"Today's actions represent an additional piece in the
Commission's ongoing efforts, in coordination with other
regulators, to promote central clearing as part of a regulatory
framework for credit-default swaps," said SEC Chairman Mary L.
Schapiro.
ICE Clear Europe, owned by IntercontinentalExchange Inc. (ICE)
and Eurex are now the fourth and fifth clearing platforms to
receive a green light from the SEC for credit-default swap
clearing, respectively.
The SEC has also approved clearing platforms for ICE Trust, CME
Group (CME) and LCH.Clearnet. ICE Trust is currently the only
operable clearinghouse for credit-default swaps in the U.S.
-By Sarah N. Lynch, Dow Jones Newswires; 202-862-6634;
sarah.lynch@dowjones.com