ICE clouded over clearing strategy

Intercontinental Exchange (ICE)'s original proposal to make use of clearing facilities at newly acquired New York Board of Trade (Nybot) has become wrapped in confusion with the exchange claiming it is now unsure of its eventual strategy and future relationship with LCH Clearnet (LCH-C).

ICE said during its results presentation that it would hope to adopt the Nybot clearing system within 12 to 18 months (see FO Week Vol 12 No 6) though doubts linger over the practicalities of the matter. A spokesperson for ICE indicated that its position with LCH-C stood at an uncertain...