ICE Approved To Clear Sovereign CDS In Latin America

Law360, New York (October 21, 2011, 4:24 PM EDT) -- IntercontinentalExchange Inc.'s ICE Clear Credit arm will become the first central counterparty to clear sovereign credit default swaps, with the launch later this month of CDS clearing for several Latin American countries, the futures exchange operator announced Thursday.

The U.S. Securities and Exchange Commission, the primary regulator for single-name CDS, granted Atlanta-based ICE regulatory approval for clearing of sovereign CDS for Argentina, Brazil, Mexico and Venezuela, the company said.

CDS clearing for Brazil and Mexico will launch Oct. 31, with clearing for Argentina and Venezuela to...
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