Intercontinental Exchange, Inc. (ICE), a global provider of technology and data, announced today that RBC Capital Markets, LLC (RBC), a subsidiary of Royal Bank of Canada, has become a Futures Commission Merchant (FCM) clearing participant on ICE Clear Credit, its central clearinghouse for credit default swaps. This marks RBC Capital Markets as the first FCM with a Canadian parent company to join the platform.
Eric Aldous, Head of Futures at RBC Capital Markets, stated, “We are excited to announce the launch of Credit Default Swap clearing on ICE Clear Credit. This builds on our FCM offering and complements our capabilities for Futures and Interest Rate Swaps, deepening our client relationships and providing new growth opportunities.”
Stan Ivanov, President of ICE Clear Credit, commented, “We’re pleased to welcome RBC Capital Markets as an FCM at ICE Clear Credit. Their participation reflects the growing demand for resilient and capital efficient risk management services and highlights the critical role central clearing plays in supporting healthy, transparent and competitive markets. As regulatory and capital requirements evolve, we remain committed to providing robust clearing solutions that enhance market integrity and meet the needs of clearing participants worldwide.”
ICE Clear Credit, launched by ICE in 2009, facilitates the clearing of over 650 Single Name, Index, and Index Option CDS instruments that reference corporate and sovereign debt. The clearinghouse has reduced counterparty risk exposure for trades with a combined notional amount exceeding $385 trillion, with current open interest at ICE Clear Credit standing at over $2 trillion. ICE Clear Credit is recognized for operating the most widely used, diversified, and capital-efficient CDS clearing services.
Intercontinental Exchange (NYSE: ICE) is a Fortune 500 company that designs, builds, and operates digital networks providing financial technology and data services across major asset classes. ICE’s operations include futures, equity, and options exchanges, such as the New York Stock Exchange, and clearing houses that support investment, capital raising, and risk management.
