Intercontinental Exchange (NYSE: ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, announced the transition of index credit default swap (CDS) open interest from CME Group to ICE Clear Credit, ICE’s U.S.-based CDS clearing house. This has been the first transition of its kind and it follows CME Group’s announcement in September 2017 that it was exiting the CDS business and would work with customers to transition open positions to an alternate clearing house.
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