Best innovation by a clearing house, Americas
ICE Trust
Best innovation by a clearing house, Europe, Middle East and Africa
ICE Clear Europe
Most innovative work by a law firm in the field of exchange-traded or centrally cleared derivatives
Shearman & Sterling’s work on setting up ICE Clear Europe and ICE Trust
IntercontinentalExchange’s scooping of both FOW’s clearing house awards (the Asia Pacific award was not given) will come as little surprise to derivatives professionals.
The most dramatic change during 2008-9 in the field of cleared derivatives was the shifting of a large over-the-counter market, credit default swaps, at least partly into the cleared world.
Regulatory goading played a big part, but the industry had to do the heavy pushing and pulling.
This transformation was played out in a competitive way, as several exchanges vied for a share of the CDS clearing action. Some well informed commentators backed ICE...