Shearman & Sterling has assisted ICE Clear Europe in setting up its credit default swap (CDS) clearing service in Europe. The CDS clearing house, which launched on July 30, is one of the first in Europe to provide central clearing. It also received exemption from the SEC in the US to allow it to act as a central counterparty. The main dealers in CDS, which had applied to become members of ICE Clear Europe, were represented by Allen & Overy.
August 05 2009