Bloomberg.com: News: "Jan. 15 (Bloomberg) -- Intercontinental Exchange Inc., the second-largest U.S. futures market, is emerging as the leading candidate to run a clearinghouse for the $29 trillion market for credit-default swaps.
Analysts at Morgan Stanley and CreditSights Inc. said this week that Atlanta-based Intercontinental, also known as ICE, will likely be the industry choice to back the contracts because of its partnership with Goldman Sachs Group Inc.,JPMorgan Chase & Co. and seven other banks that account for over 80 percent of the trading. A clearinghouse may earn as much as $400 million in annual revenue, according to Keefe Bruyette & Woods Inc."
Thursday, January 15, 2009
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