Intercontinental Exchange, Inc. (NYSE: Ice) announced today that RBC Capital Markets, LLC (RBC), a subsidiary of the Royal Bank of Canada, joined the Ice Clear Credit as a participant Futures Merchant (FCM).
RBC Capital Markets, LLC, is the first FCM with a Canadian parent company in Clear Credit.
“We are excited to announce that the starting of Credit Default Exchange Clearing for Clear Credit.
“We are pleased to welcome RBC Capital Markets as FCM in Ice Clear Credit,” said Stan Ivanov, president of Ice Clear Credit. “Their participation reflects the increasing demand for durable and capital risk management services and underlines the crucial role played by central cleaning in supporting healthy, transparent and competitive markets.
Ice Clear Credit, launched by Ice in 2009 to bring a central clearance to the CDS market, allows more than 650 individual names, index and CDS index and state -owned debt index and index. The clearance of the Ice Clear Credit has reduced the exposure to the risk of transactions with a combined fictitious amount of more than $ 385 trillion, with the current open interest of Ice Clear Credit more than $ 2 trillion.
Ice Clear Credit takes advantage of the most widely used, more differentiated and capital clearance services.