Press release from PR Newswire
IntercontinentalExchange Successfully Launches ICE Swap Trade
Thursday, October 03, 2013
IntercontinentalExchange Successfully Launches ICE Swap Trade08:21 EDT Thursday, October 03, 2013
ATLANTA, Oct. 3, 2013 /PRNewswire/ -- IntercontinentalExchange (NYSE: ICE), a leading operator of global markets and clearing houses, has launched ICE Swap Trade, ICE's CFTC-registered Swap Execution Facility (SEF), with trading activity in many different products in the energy and credit default swap (CDS) markets.
Several customers, including both U.S.-based and non-U.S.-based entities, executed swap transactions on ICE Swap Trade. In credit markets, trading activity occurred in four different CDS index products. In energy markets, trading activity occurred in 14 different contracts.
"The launch is the culmination of a collaborative effort among ICE, our customers and our partners to create a marketplace for our energy and credit customers that enables them to adapt to regulatory change with confidence," said Thomas Farley, Senior Vice President of Financial Markets. "The readiness of our solution was evident in the smooth transition and customer adoption."
ICE Swap Trade offers various index CDS products across North American, European and emerging market instruments and intends to offer single-name CDS in the future. ICE transitioned its cleared OTC energy contracts to futures in October 2012. Certain non-cleared contracts that continued to trade on ICE OTC Commodity Markets began trading on ICE Swap Trade yesterday.
IntercontinentalExchange IntercontinentalExchange (NYSE: ICE) is a leading operator of regulated exchanges and clearing houses serving the risk management needs of global markets for agricultural, credit, currency, emissions, energy and equity index products. www.theice.com
The following are trademarks of IntercontinentalExchange, Inc. and/or its affiliated companies: IntercontinentalExchange, ICE, ICE and block design, ICE Futures Europe, ICE Clear Europe, ICE Clear Canada, ICE Clear US, ICE Clear Credit, ICE Futures U.S., and ICE OTC. All other trademarks are the property of their respective owners. For more information regarding registered trademarks owned by IntercontinentalExchange, Inc. and/or its affiliated companies, see https://www.theice.com/terms.jhtml
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 - Statements in this press release regarding IntercontinentalExchange'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, 2012, as filed with the SEC on February 6, 2013.
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For further information: Media Contact: Christopher McEntee, Director, IntercontinentalExchange, 1-770-857-2782, firstname.lastname@example.org, or Investor Contact: Kelly Loeffler, VP Investor Relations & Corp. Communications, IntercontinentalExchange, 1-770-857-4726, email@example.com