ICE Clear Credit Expands European Participation With the Addition of Intesa Sanpaolo as a Clearing Participant

By: Intercontinental Exchange via Business Wire

May 08, 2023 at 03:00 AM EDT

Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure, today announced that Intesa Sanpaolo S.p.A., Italy’s leading banking group, has become a clearing participant at ICE Clear Credit, the leading global clearinghouse for credit default swaps.

ICE Clear Credit provides a comprehensive product offering, robust mark-to-market services and state-of-the-art risk management approach. As a clearing participant, Intesa Sanpaolo will have access to industry-leading solutions for clearing Single Name and Index CDS instruments, as well CDS Index Option instruments referencing the major North American and European corporate indices.

“As a valuable and active bank group in Europe, we’re extremely pleased to have Intesa Sanpaolo join as a clearing participant,” said Stan Ivanov, President of ICE Clear Credit. “The addition of Intesa Sanpaolo to the world-class roster of clearing participants delivers further depth to our services and paves the way to extend our offering to Italian financial institutions."

Launched in 2009, ICE Clear Credit clearing solutions offer clearing for more than 500 Single Name and Index CDS instruments referencing corporate and sovereign debt and have reduced counterparty risk exposure by clearing over $283 trillion in two-sided notional amount, with open interest of approximately $2.0 trillion.

For more information about ICE Clear Credit, please visit: https://www.theice.com/credit-derivatives/options.

About Intercontinental Exchange

Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.

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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, 2022, as filed with the SEC on February 2, 2023.

Category: Fixed Income and Data Services

SOURCE: Intercontinental Exchange

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