ICE Singapore gets European clearing nod, will go live on Nov 17

London

INTERCONTINENTAL Exchange Inc's Singapore clearing house, which acts as an important firewall between traders, has been recognised by the European Securities and Markets Authority as meeting the continent's standards, while its US and European units have yet to gain that status.

The central counterparty recognition will allow ICE Clear Singapore to provide clearing services to European companies, ICE said in a statement on Monday. The unit will go live on Nov 17, as will its futures market.