ICE reports increase in CDS clearing revenue

IntercontinentalExchange announced that it made $13 million from clearing credit default swaps in the first quarter of 2011. The figure is some 13% higher than for the same period last year, but down on every other quarter of last year – see below.

The company also reported lower revenues for its credit execution business, that is, the Creditex interdealer brokerage business. CDS execution revenues were $26 million – down from $31.2 million last year.

ICE CDS clearing revenue

Source: ICE