One year after Lehman, ICE has cleared $2tr of CDS

14 Sep 2009

Intercontinental Exchange has passed the $2tr mark in notional value of cleared North American credit default swap (CDS) contracts since its clearing house opened in March.

The US exchange said the milestone was exceeded with a total of 24,006 contracts, during the week of September 7 to...

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“At our current funding level, the Commission is under serious strain. We lack the staff and resources necessary to both implement Dodd-Frank and continue to fulfil our pre-Dodd-Frank duties under the Commodity Exchange Act. Without additional funding, the strain will only become worse in July, when much of Dodd-Frank goes into effect.”

The CFTC's Michael Dunn pleads for Congressional support over the regulator's budget.

One year after Lehman, ICE has cleared $2tr of CDS

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