To date, ICE has cleared 1.38 million CDS trades globally, totalling $42.96 trillion in gross notional value for North American and European CDS instruments. Global open interest is $1.44 trillion as at July 26, 2013. ICE Clear Europe began clearing European index CDS contracts and European corporate single name CDS contracts in 2009. It has cleared more than 650,000 trades and €12.85 trillion gross notional value.ICE has established risk frameworks for the clearing of its U.S. and European CDS businesses that are separate from its futures markets, including independent risk models, guaranty funds and margin accounts, as well as a CDS-focused risk management system and an independent governance structure.
ICE Clear Europe To Introduce Client Clearing For Index And Single Name CDS On October 7, 2013; Over EUR 12 Trillion In European CDS Cleared To Date
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