Ice throws down FX clearing gauntlet to competitors

The new over-the-counter foreign exchange clearing service announced this week by the IntercontinentalExchange (Ice) will robustly differentiate itself from other emerging platforms, despite having been developed with less public fanfare than its competitors, senior officials at the exchange have told FX Week.

"We have spent about a year-and-half putting this service together and we wanted to wait to announce until we knew we would have a differentiated offering that would be able to compete