Futures Exchanges Vie for OTC Market
For its part, the IntercontinentalExchange (ICE) has made a further foray into the clearing space with its planned acquisition of The Clearing Corp. (TCC). The deal, financial details of which were not made public, extends a previous agreement ICE had with TCC to develop a joint global clearing offering for credit default swaps (CDSes).
Banks are looking at CDSes and trading of credit as an instrumental part of managing credit risk in today's volatile markets, according to an ICE official, who
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