ATLANTA & NEW YORK–(BUSINESS WIRE)– Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of technology and data, today announced that Mizuho Americas through its security-based swap dealer Mizuho Capital Markets LLC, part of Mizuho Financial Group (NYSE: MFG), has become a clearing member at ICE Clear Credit, the leading global clearinghouse for credit default swaps.
“Mizuho Americas is excited to join ICE Clear Credit to enhance our product offering and approach to capital and risk management delivering efficiencies across our CDS portfolios,” said Natalya Rasmussen, Chief Operating Officer, Fixed Income Division, Mizuho Americas. “The opportunity to centrally clear products is an important step forward for our business and these operational improvements will amplify our strategic growth within the global credit derivatives market.”
ICE Clear Credit provides a comprehensive product offering, robust mark-to-market services and state-of-the-art risk management approach. As a clearing member, Mizuho Americas will have access to industry-leading solutions for clearing Single Name and Index CDS instruments, as well as CDS Index Option instruments referencing the major North American and European corporate indices.
“We’re pleased to welcome Mizuho Americas to our growing network of global clearing members,” said Stan Ivanov, President of ICE Clear Credit. “As the global CDS market continues to evolve, Mizuho’s addition strengthens our position as a service provider of deep liquidity, transparency, and resilience in today’s dynamic credit landscape, where effective risk management is paramount.”
ICE Clear Credit, launched by ICE in 2009 to bring centralized clearing to the CDS market, enables clearing of more than 670 Single Name, Index, and Index Option CDS instruments referencing corporate and sovereign debt. ICE Clear Credit clearing has reduced counterparty risk exposure for parties to trades with a combined notional amount of over $385 trillion, with current open interest at ICE Clear Credit over $2 trillion.
For more information about ICE Clear Credit, please visit: https://www.theice.com/credit-derivatives/options
