Intercontinental Exchange has cemented its position as the front runner in providing central counterparty (CCP) clearing for credit default swaps. ICE revealed its US and European clearing houses have cleared more than 24,000 contracts worth $2.2tr. It also announced that BNP Paribas has joined as its 13th member in the US.
However, ICE’s chief European rival, Eurex, insisted that the race for CDS clearing...