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ICE likely to begin in-house clearing in August

By Associated Press
July 7, 2008 | Comments (0)

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ICE Clear Europe, a unit of exchange operator InterContinental Exchange Inc., said Monday it reached an agreement with LCH.Clearnet on technical issues to allow ICE to move to an in-house clearing division.

ICE Clear Europe expects the transition to occur in August.

Existing arrangements for clearing trades between ICE and LCH will remain in effect until the transition is complete.

Shares of InterContinental Exchange rose $2.87, or 2.7 percent, to $108.87 in morning trading.

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