Large banks support ICE's plan to purchase Clearing

10/31/2008 | Wall Street Journal, The

The largest investment banks in the world, including Deutsche Bank, JPMorgan Chase, Credit Suisse and Goldman Sachs, expressed support for IntercontinentalExchange's acquisition of Clearing, which was previously chosen to establish a clearinghouse for credit-default swaps. Despite the likelihood of tighter regulation, banks are committed to the CDS market, ICE CEO Jeff Sprecher said.

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