ICE looks to ditch LCH-C within next 18 months

Intercontinental Exchange (ICE) said that following its takeover of New York Board of Trade (Nybot) it hopes to have its own in-house clearing system and sever ties from LCH Clearnet within the next 12-18 months. The announcement was made during its year-end results presentation, at which it revealed it saw total revenue increase 101% to equal $313.8m during 2006 in its first results announ-cement following its takeover.Since ICE's takeover of Nybot it has become a matter of interest over whether it would adopt the New York exchange's in house clearing system. ICE clears all of its...