ATLANTA, May 13 /PRNewswire-FirstCall/ -- IntercontinentalExchange
(NYSE: ICE), a leading operator of global derivatives exchanges and over-the-
counter (OTC) markets, announced today that ICE Clear Europe(TM) has received
recognition from the UK Financial Services Authority (FSA) as a UK Recognised
Clearing House, following HM Treasury approval and an Office of Fair Trading
review.
"ICE has a long-standing appreciation for the importance of clearing and
its vital role in the operation of markets," said ICE Chairman and CEO Jeffrey
C. Sprecher. "We are working to provide an integrated clearing solution to the
market to promote continued innovation in risk management and the expansion of
cleared markets. ICE Clear Europe seeks to provide new products and services
in a timely and cost efficient manner in response to the needs of our end
users, member firms and risk managers."
"We have made significant operational progress to date working closely
with the clearing community to build our European clearing business, and FSA
recognition is a key milestone for us," said Paul Swann, President of ICE
Clear Europe. "We are grateful for the support of clearing firms in these
efforts. We will continue to work closely with market participants to develop
a leading financial safeguard system."
ICE Clear Europe is being formed to provide clearing services to the
global energy markets for over-the-counter and European futures transactions
executed on ICE's electronic platform. ICE Clear Europe will enable the
efficient development of new cleared markets to support the risk management
needs of customers, with the capability to offer similar services to an
expanded range of asset classes.
Based in London, ICE Clear Europe is expected to commence operations in
July 2008.
About IntercontinentalExchange
IntercontinentalExchange(R) (NYSE: ICE) is a leading operator of global
exchanges and over-the-counter (OTC) markets. ICE offers futures and OTC
markets on a single trading platform, including markets for crude oil and
refined products, natural gas, power and emissions, as well as agricultural
commodities and financial products such as canola, cocoa, coffee, cotton,
ethanol, orange juice, wood pulp, sugar, foreign currency and equity index
futures and options. ICE(R) conducts its energy futures markets, including the
leading oil benchmark contracts, through its London-based exchange, ICE
Futures Europe(TM. ICE conducts its global agricultural commodity, foreign
exchange and equity index futures markets through its U.S. and Canadian
exchanges, ICE Futures U.S.(TM) and ICE Futures Canada(TM), and offers
clearing services through ICE Clear U.S.(TM) and ICE Clear Canada(TM). ICE's
state-of-the-art electronic trading platform serves market participants in
more than 55 countries. ICE is included in the Russell 1000(R) Index and the
S&P 500 Index. Headquartered in Atlanta, ICE has offices in Calgary, Chicago,
Houston, London, New York, Singapore and Winnipeg. For more information,
please visit www.theice.com .
Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995 - Statements in this press release regarding
IntercontinentalExchange's business that are not historical facts are
"forward-looking statements" that involve risks and uncertainties. For a
discussion of such risks and uncertainties, which could cause actual results
to differ from those contained in the forward-looking statements, see ICE's
Securities and Exchange Commission (SEC) filings, including, but not limited
to, the risk factors in ICE's Annual Report on Form 10-K for the year ended
December 31, 2007, as filed with the SEC on February 13, 2008.
SOURCE IntercontinentalExchange
