Citi has cleared its maiden credit default swap trades on ICE Clear Credit.
July 20, 2011
Citi has cleared its maiden credit default swap (CDS) trades on ICE Clear Credit. Since 2009, the firm has cleared $6 billion worth of CDS for clients across ICE platform ICE Trust and the Chicago Mercantile Exchange (CME).
For interest rate swaps, Citi has cleared trades for four of five buy-side founding members of CME’s platform. It has also cleared interest rate swaps through LCH Swapclear’s U.S. and European solutions.