ICE extends clearer for credit default swaps to buy side

07/24/2009 | Financial Times (tiered subscription model)

IntercontinentalExchange is launching clearing services for credit default swaps to asset and pension-fund managers. The move comes as lawmakers, regulators and other industry insiders are increasing pressure to have over-the-counter derivatives standardized, traded on exchanges and cleared through clearinghouses. Most services cater to banks -- the sell side -- rather than pension-fund and asset managers -- the buy side.

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