The IntercontinentalExchange’s (ICE) ICE Trust U.S. will now be regulated by the U.S. Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC), as per the Dodd-Frank law. The clearing house will be regulated by the CFTC for broad-based index products and by the SEC for single-name products.
The trust will continue clearing the 168 products it offers for clearing across North American credit default swap (CDS) indices and single-name instruments as a derivative clearing organization and securities clearing agency. The ICE’s North American CDS clearing house will change from a New York State Banking Department and Federal Reserve-regulated bank and be known as ICE Clear Credit.
Click here for the release from the IntercontinentalExchange.