UK exchange group acquires 4.92% stake in Euroclear as two look to work together on commercial collaboration and product development.
Global Custodian understands the promotion marks a new strategic focus for Euroclear to drive sales with financial institutions in the Americas region.
ICE recently increased its stake in Euroclear to 10%, as it looks to strengthen its exposure to Europe’s market infrastructure.
The increase comes less than six months after the global exchange group purchased a 4.7% stake in Euroclear from RBS for €275 million.
ICE CEO Jeff Sprecher said the deal with Euroclear will align it closer to Europe’s custody industry.
ICE represents the first exchange operator to acquire a stake in the Belgium-based post-trade infrastructure.
Jeffrey Sprecher said Europe could follow recent regulatory trends seen in the US.
Clearing houses must update their technology to deal with cleared OTC derivatives, according to Swann.
Speaking at IDX today, ICE CEO Jeff Sprecher says it remains to be seen if blockchain can make markets better, cheaper and faster.
IntercontinentalExchange (ICE) is set to launch new interest rate futures contracts which allows short-term financing.