ICE starts clearing NYSE Liffe derivatives trades

U.S.-based exchange operator IntercontinentalExchange has started clearing derivatives transactions executed through NYSE Liffe.

This new development was announced on July 2 by both ICE Clear Europe, which is owned by ICE, and NYSE Liffe, the derivatives division of exchange operator NYSE Euronext.

Recently, a wide range of open positions were moved to ICE's clearing house from NYSE Liffe, according to The Financial Times. Contracts related to commodities, fixed income, equity and currencies were moved during the last weekend in June.

As a result of this switch, the sheer volume of derivatives trading that is cleared by ICE Clear Europe places it in the same league as Deutsche Boerse's Eurex, the media outlet reports.

The collaboration of the two clearing entities happened after the exchange operators announced late last year the London market of NYSE Liffe would clear its trades through ICE Clear Europe.

"In just under five years, ICE Clear Europe has launched hundreds of new products and become a leading multi-asset clearing house in Europe, clearing more than 3 million contracts daily," said Jeffrey Sprecher, ICE chairman and chief executive officer. "I am proud of the efforts of our teams in completing this latest milestone."

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