ICE Trade Vault Europe Advances ICE's Role As A Premier Operator Of Trade Repositories
IntercontinentalExchange Group (NYSE: ICE), the leading global network of exchanges and clearing houses, announced today that the European Securities and Markets Authority (ESMA) has approved ICE Trade Vault Europe Limited (ICE Trade Vault Europe) as a Trade Repository (TR) for the reporting of swaps and futures trade data to meet requirements of the European Market Infrastructure Regulation (EMIR).
ICE Trade Vault Europe was approved to collect trade data in the commodities, credit, interest rate and equity derivatives asset classes, and joins ICE Trade Vault U.S. as well as planned ICE repository services in Asia and Australia. Unique to EMIR, European trade data reporting also will encompass exchange-traded derivatives (ETDs).
"We appreciate ESMA's detailed and comprehensive application process for trade repository applicants and we are pleased to launch this new and essential element of European market infrastructure," said David Peniket, Managing Director of ICE Trade Vault Europe. "Thanks to ICE's sophisticated technology and connectivity to execution venues and clearing houses, customers will find an accommodating and seamless service to meet the new reporting requirements under EMIR."
In June 2012, ICE Trade Vault, LLC (ICE Trade Vault U.S.) became the first Swap Data Repository (SDR) in the U.S. to receive provisional regulatory approval from the Commodity Futures Trading Commission. Since its inception, ICE Trade Vault US has accepted over seventeen million trades.
"Since the development of ICE Trade Vault, our goal is to offer a global trade repository solution and the approval by ESMA advances that vision," said Bruce Tupper, President of ICE Trade Vault. "We look forward to serving customers with an efficient and effective offering that satisfies their global regulatory and compliance demands."
ICE Trade Vault Europe uses ICE's proven repository technology for market participants to submit data and will connect to a range of institutions, including Clearing Houses, Multilateral Trading Facilities (MTFs) and Organised Trading Facilities (OTFs). Market participants adopting the ICE Trade Vault repository technology will ensure seamless integration to single front-end for global reporting obligations. These participants can leverage their existing connectivity to satisfy new reporting obligations. ICE Trade Vault is delivering a cost-efficient global repository solution.