The Royal Bank of Scotland plc (RBS) has been approved as a CDS clearing member of ICE Clear Europe and began operations with the clearing house last week.
ICE Clear Europe launched July 27 with 10 clearing members. In its first three weeks of operation, ICE Clear Europe processed 1,574 transactions totaling Euro 88.7 billion of notional value.
ICE Clear Europe cleared 734 transactions totaling EUR50.8 billion (USD72.1 billion) in credit default swap (CDS) indexes during the week of 10 August. Open interest reached Euro 6.6 billion (USD9.4 billion).
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