ICE Clear Europe receives EMIR authorisation
Officials at the Bank of England have authorised ICE Clear Europe as a central counterparty (CCP) under European Market Infrastructure Regulation (EMIR).
The clearing house has demonstrated that its governance, operations, risk management, treasury and banking infrastructure are EMIR compliant, a statement said on Monday.
"We will continue to work closely with our clearing members and their customers as the European clearing mandates come into force over the coming months,” said Paul Swann, president & managing director, ICE Clear Europe.
ICE Clear Europe was set-up in 2008 as the UK’s first new clearing house in over a century and today it provides clearing for thousands of futures and options products across a wide range of asset classes, as well as credit default swaps (CDS).
The CCP was launched during the financial crisis, as the importance of central clearing was becoming even more evident.
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