ICE to launch clearing service for US Treasury market
25 June 2024 US
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Intercontinental Exchange (ICE) has announced its plan to launch a clearing service for all US Treasury securities and repurchasing agreements.
This follows the recent move by the US Securities and Exchange Commission (SEC), mandating for the expansion of US Treasury securities clearing to enhance resilience in the market.
The new Treasury clearing service will be a distinct offering from the current credit default swaps (CDS), though it will leverage ICE’s existing CDS clearing house, ICE Clear Credit.
Stan Ivanov, president of ICE Clear Credit, says: “The rich experience we’ve developed creating and operating ICE Clear Credit and the work we’ve done to ensure its compliance with all US and foreign regulatory regimes has created a fertile environment for adding Treasury clearing to our suite of credit clearing services.”
Chris Edmonds, president of ICE’s Fixed Income and Data Services, says: “As we look to add Treasury clearing to the breadth of services we offer for fixed income markets, we will leverage the successful playbook we developed in the past to offer an industry-trusted clearing solution along with the front, middle and back office workflows our customers rely on to manage their daily business operations.”
This follows the recent move by the US Securities and Exchange Commission (SEC), mandating for the expansion of US Treasury securities clearing to enhance resilience in the market.
The new Treasury clearing service will be a distinct offering from the current credit default swaps (CDS), though it will leverage ICE’s existing CDS clearing house, ICE Clear Credit.
Stan Ivanov, president of ICE Clear Credit, says: “The rich experience we’ve developed creating and operating ICE Clear Credit and the work we’ve done to ensure its compliance with all US and foreign regulatory regimes has created a fertile environment for adding Treasury clearing to our suite of credit clearing services.”
Chris Edmonds, president of ICE’s Fixed Income and Data Services, says: “As we look to add Treasury clearing to the breadth of services we offer for fixed income markets, we will leverage the successful playbook we developed in the past to offer an industry-trusted clearing solution along with the front, middle and back office workflows our customers rely on to manage their daily business operations.”
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