Industry sources have suggested that Intercontinental
Exchange (ICE)'s planned European clearing service is designed
primarily to poach revenue currently made by LCH Clearnet
(LCH-C) and not necessarily to create greater efficiencies.
One source told FO Week that the proposed ICE system, ICE
Clear, would be very similar to the current LCH-C service and
that it will simply come down to whether or not ICE can
persuade members to switch over.
"For LCH members who only trade ICE there will be some
headaches associated with the switch, but it may be a different
matter for member firms who currently use LCH-C to clear trades
from multiple exchanges," he said.
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