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ICE Link

Innovative Post-Trade Services for CDS Affirmation, Novation and Clearing

ICE Link is a post-trade connectivity and middleware application for the credit default swaps (CDS) market. The app provides industry participants with electronic workflow and connectivity to real-time clearing, minimizing operational risk and cost while helping participants meet new regulatory clearing requirements.

Highlights of ICE Link

ICE Link is a post-trade connectivity and middleware application for the credit default swaps (CDS) market. The app provides industry participants with electronic workflow and connectivity to real-time clearing, minimizing operational risk and cost while helping participants meet new regulatory clearing requirements.

  • Most widely adopted CDS trade workflow and connectivity provider
  • Connectivity to more than 1,120 buy-side institutions and all dealers, all prime/clearing brokers, all swap exchange facilities (SEF), and interdealer brokers (IDBs)
  • Full support for CDS transactions through a single user interface or API

ICE Link Features

Central Clearing

  • New trade clearing affirmation, allocation and clearing house submission
  • Clearing house margin calculators
  • Clearing reports (e.g., margin, cleared positions, netting reports, etc)
  • Specialized clearing workflows (e.g. transfers, back-loads, netting, multi-clearing broker, fallback, etc)
  • Real-time clearing of CP-to-CP trades (A=C and C=C+)

Trade Intermediation

  • Clearing broker and prime broker intermediation consent
  • Allocation processing with clearing / prime brokers
  • Prime broker step-out / stay-in novations
  • Prime broker adoptions / backfill and conversions
  • Fund-to-fund transfer of prime brokered trades

Novation Consent

  • The first and leading Novation Consent equals Confirmation solution
  • Electronic, transparent, and auditable process that fully complies with industry standards
  • Flexible integration options that enable institutions to fully automate their roles in the novation process
  • Real-time position management

Auto-Affirmation & Integration

  • Automated, exception-based processing combined and full benefits of straight-through processing to greatly reduce operational risk and cost
  • Connections to numerous swap exchange facilities (E-Trade and IDB Platforms), order management systems and third-party fund administrators
  • Full integration with swap data repository and price dissemination platforms for simplified support of regulatory reporting obligations

Global Customer Service

  • Market-leading customer service, including a highly responsive help desk, training, product management, CDS expertise and integration services
  • Customer service and integration teams who work with customers from day one to ensure smooth adoption of the Link app

Market Resources

Factsheets

ICE Link Clearing Services

Client Clearing Onboarding

ICE Link SEF & IDB

ICE Link Novation Consent Services

Webinars

Position Transfer Workflow (Video)

Position Transfer Workflow

Post Trade

ICE Link

Innovative Post-Trade Services for CDS Affirmation, Novation and Clearing

ICE Link is a post-trade connectivity and middleware application for the credit default swaps (CDS) market. The app provides industry participants with electronic workflow and connectivity to real-time clearing, minimizing operational risk and cost while helping participants meet new regulatory clearing requirements.

Highlights of ICE Link

ICE Link is a post-trade connectivity and middleware application for the credit default swaps (CDS) market. The app provides industry participants with electronic workflow and connectivity to real-time clearing, minimizing operational risk and cost while helping participants meet new regulatory clearing requirements.

  • Most widely adopted CDS trade workflow and connectivity provider
  • Connectivity to more than 1,120 buy-side institutions and all dealers, all prime/clearing brokers, all swap exchange facilities (SEF), and interdealer brokers (IDBs)
  • Full support for CDS transactions through a single user interface or API

ICE Link Features

Central Clearing

  • New trade clearing affirmation, allocation and clearing house submission
  • Clearing house margin calculators
  • Clearing reports (e.g., margin, cleared positions, netting reports, etc)
  • Specialized clearing workflows (e.g. transfers, back-loads, netting, multi-clearing broker, fallback, etc)
  • Real-time clearing of CP-to-CP trades (A=C and C=C+)

Trade Intermediation

  • Clearing broker and prime broker intermediation consent
  • Allocation processing with clearing / prime brokers
  • Prime broker step-out / stay-in novations
  • Prime broker adoptions / backfill and conversions
  • Fund-to-fund transfer of prime brokered trades

Novation Consent

  • The first and leading Novation Consent equals Confirmation solution
  • Electronic, transparent, and auditable process that fully complies with industry standards
  • Flexible integration options that enable institutions to fully automate their roles in the novation process
  • Real-time position management

Auto-Affirmation & Integration

  • Automated, exception-based processing combined and full benefits of straight-through processing to greatly reduce operational risk and cost
  • Connections to numerous swap exchange facilities (E-Trade and IDB Platforms), order management systems and third-party fund administrators
  • Full integration with swap data repository and price dissemination platforms for simplified support of regulatory reporting obligations

Global Customer Service

  • Market-leading customer service, including a highly responsive help desk, training, product management, CDS expertise and integration services
  • Customer service and integration teams who work with customers from day one to ensure smooth adoption of the Link app

Interested in ICE Link?