INTERNATIONAL: ICE Clear Europe Receives Recognition as a Third Country Central Counterparty Under EMIR

Tuesday September 29 2020

On 28^th September 2020, Intercontinental Exchange (NYSE: ICE), announced that ICE Clear Europe has been recognized by the European Securities and Markets Authority (ESMA), the European Union (EU) securities markets regulator, as a third country central counterparty in accordance with the European Markets Infrastructure Regulation (EMIR). This recognition will take effect once the transition arrangement between the United Kingdom and EU ends.

With approximately four million contracts cleared every day across multiple asset classes, ICE Clear Europe acts as a central counterparty that becomes the buyer to every seller and the seller to every buyer for its clearing members. Through this central counterparty function, ICE Clear Europe provides financial security for each transaction for the duration of the position by limiting counterparty credit risk. ICE Clear Europe clears futures and options contracts for interest rates, equity index futures, energy products, agricultural products and credit default swaps.

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