Intercontinental Exchange (ICE)s soon-to-be-launched
clearinghouse, ICE Clear, has had its application to become a
UK Recognised Clearing House approved by the UK Financial
Services Authority (FSA). The endorsement will see ICE transfer
European clearing operations away from LCH Clearnet to its own
The FSA endorsement was issued only after an Office of Fair
Trading (OFT) review which concluded that the recognition
of ICE Clear would not lead to a significantly adverse effect
on competition. However, while (OFT) has concluded that
ICE Clear would not be anti-competitive, unease has emanated
from the market which has expressed concerns that a move away
from the established and robust LCH Clearnet could prove a
This article is available exclusively to subscribers
Please log in to continue reading.
Not yet a subscriber?
Click here to take a free trial.
Already have an account? |
Please fill in your details below and a customer service representative will contact you.