The IntercontinentalExchange (ICE) has rolled out the Affirmed=Cleared (A=C) interdealer workflow on the ICE Link platform. A=C allows credit default swap (CDS) trades to be cleared on the same day.
ICE Link’s A=C workflow was unveiled with interdealer broker support from firms, including BGC, Creditex, GFI Group, ICAP and Phoenix Partners. Previously, the CDS transactions were sourced from the Depository Trust & Clearing Corporation’s Trade Information Warehouse and cleared on a weekly basis.
Click here for the release from IntercontinentalExchange.