ATLANTA, May 13 /PRNewswire-FirstCall/ -- IntercontinentalExchange
(NYSE: ICE), a leading operator of global derivatives exchanges and
over-the- counter (OTC) markets, announced today that ICE Clear Europe(TM)
has received recognition from the UK Financial Services Authority (FSA) as
a UK Recognised Clearing House, following HM Treasury approval and an
Office of Fair Trading review.
"ICE has a long-standing appreciation for the importance of clearing
and its vital role in the operation of markets," said ICE Chairman and CEO
Jeffrey C. Sprecher. "We are working to provide an integrated clearing
solution to the market to promote continued innovation in risk management
and the expansion of cleared markets. ICE Clear Europe seeks to provide new
products and services in a timely and cost efficient manner in response to
the needs of our end users, member firms and risk managers."
"We have made significant operational progress to date working closely
with the clearing community to build our European clearing business, and
FSA recognition is a key milestone for us," said Paul Swann, President of
ICE Clear Europe. "We are grateful for the support of clearing firms in
these efforts. We will continue to work closely with market participants to
develop a leading financial safeguard system."
ICE Clear Europe is being formed to provide clearing services to the
global energy markets for over-the-counter and European futures
transactions executed on ICE's electronic platform. ICE Clear Europe will
enable the efficient development of new cleared markets to support the risk
management needs of customers, with the capability to offer similar
services to an expanded range of asset classes.
Based in London, ICE Clear Europe is expected to commence operations in
July 2008.
About IntercontinentalExchange
IntercontinentalExchange(R) (NYSE: ICE) is a leading operator of global
exchanges and over-the-counter (OTC) markets. ICE offers futures and OTC
markets on a single trading platform, including markets for crude oil and
refined products, natural gas, power and emissions, as well as agricultural
commodities and financial products such as canola, cocoa, coffee, cotton,
ethanol, orange juice, wood pulp, sugar, foreign currency and equity index
futures and options. ICE(R) conducts its energy futures markets, including
the leading oil benchmark contracts, through its London-based exchange, ICE
Futures Europe(TM. ICE conducts its global agricultural commodity, foreign
exchange and equity index futures markets through its U.S. and Canadian
exchanges, ICE Futures U.S.(TM) and ICE Futures Canada(TM), and offers
clearing services through ICE Clear U.S.(TM) and ICE Clear Canada(TM).
ICE's state-of-the-art electronic trading platform serves market
participants in more than 55 countries. ICE is included in the Russell
1000(R) Index and the S&P 500 Index. Headquartered in Atlanta, ICE has
offices in Calgary, Chicago, Houston, London, New York, Singapore and
Winnipeg. For more information, please visit http://www.theice.com .
Safe Harbor Statement under the Private Securities Litigation Reform
Act of 1995 - Statements in this press release regarding
IntercontinentalExchange's business that are not historical facts are
"forward-looking statements" that involve risks and uncertainties. For a
discussion of such risks and uncertainties, which could cause actual
results to differ from those contained in the forward-looking statements,
see ICE's Securities and Exchange Commission (SEC) filings, including, but
not limited to, the risk factors in ICE's Annual Report on Form 10-K for
the year ended December 31, 2007, as filed with the SEC on February 13,
2008.
SOURCE IntercontinentalExchange
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Related links:
http://www.theice.com
CONTACT:
Investor Contacts: Kelly Loeffler, VP,
Investor Relations & Corp. Communications, +1-770-857-4726,
kelly.loeffler@theice.com, Sarah Stashak, Director, Investor &
Public Relations, +1-770-857-0340, sarah.stashak@theice.com, both
of IntercontinentalExchange; Media Contact: Ellen G. Resnick of
Crystal Clear Communications, +1-773-929-9292, +1-312-399-9295
(c), eresnick@crystalclearPR.com
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