IntercontinentalExchange's ICE Clear Europe began clearing credit default swaps last week. The platform handled transactions for 47 European indexes and 121 corporate single-name CDS, acting as the central counterparty for five buy-side firms. "Last week was a little frantic making sure that all the moving parts were functioning properly, but we executed trades on Monday that were cleared without a hitch, so I think we can regard that as a success," said Neale Soffre of buy-side client Liontrust.

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