Ice adds insurance to default waterfall
Protection promises partial recovery of guarantee funds at three CCPs
Ice, the multinational exchange operator, has added insurance protection to its default waterfall schedule at three separate central counterparties (CCPs) under its corporate umbrella – Ice Clear Europe, Ice Clear US and Ice Clear Credit.
The firm decided to add another layer of protection after feedback from clearing members, according to chief risk officer Kevin McClear and Hester Serafini, Ice Clear US president and chief operating officer.
“It’s a form of skin in the game [SITG],” says
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