ICE Clear Singapore Gets Recognition Under EMIR; On Track For Nov. 17 Launch

(RTTNews) - Intercontinental Exchange (ICE), a leading global network of exchanges and clearing houses, Monday said ICE Clear Singapore has been recognized as a third-country central counterparty or CCP in accordance with the European Market Infrastructure Regulation or EMIR.

Regulated by the Monetary Authority of Singapore, ICE Clear Singapore has been added to ESMA's list of recognised third-country CCPs under EMIR, following the European Commission's assessment of Singapore as an equivalent third country regime in October 2014. The launch is scheduled for November 17.

Lucas Schmeddes, President & COO, ICE Futures Singapore and ICE Clear Singapore, said, "The EMIR recognition by the European Securities and Markets Authority (ESMA) allows ICE Clear Singapore to provide clearing services to European firms. This is a significant milestone."