Transparent & Liquid OTC Markets
ICE was founded in 2000 to increase access, liquidity and transparency in the OTC energy marketplace, and was among the first market operators to standardize OTC contracts and list them on a widely-distributed, centralized trading platform.
In 2002, ICE introduced clearing for OTC energy swaps and over the next decade increased the volume of cleared OTC energy business to 97%.
In 2012, ICE transitioned its cleared energy portfolio to futures and today continues to drive the development, growth and security of these vital markets.
As of October, 2013, all uncleared financial energy swaps trade on ICE Swap Trade, ICE’s swaps execution facility.
OTC Credit Derivatives
ICE entered the global credit default swap (CDS) market with the acquisition of Creditex, a leading interdealer broker in the CDS and fixed income marketplace and a pioneer in trade execution and processing. The acquisition also included ICE Link, the CDS market's leading affirmation and novation consent platform, and subsequently led to ICE's role as the world's leading clearer of CDS via ICE Clear Credit and ICE Clear Europe.
ICE now offers credit default swap contracts (CDS) including indexes and single names across North American, European and Emerging Market corporates and sovereigns on ICE Swap Trade, ICE's swaps execution facility (SEF).