IntercontinentalExchange(R) (NYSE: ICE), a leading operator of regulated global futures exchanges, clearing houses and over-the-counter (OTC) markets, announced that HSBC Bank USA has been approved as a clearing member by the Board of ICE Trust(TM), the industry’s leading clearing house for credit default swaps (CDS). HSBC became operational with ICE Trust as of May 25.
For the week ended May 22, 2009, ICE Trust cleared $60 billion in notional value of CDX indexes. Since launch, ICE Trust has cleared 7,478 transactions, totaling $646 billion of notional value and resulting in open interest of $106 billion.
