IntercontinentalExchange, the US-based futures exchange, has become the latest group to address demands of the so-called “buyside” to access over-the-counter clearing by extending its credit default swap clearer to such market participants.

OTC clearing services have started to emerge in response to demands by the Obama administration and European Commission that “standardised” OTC derivatives be traded on regulated exchanges and that as many as possible also be cleared through clearing houses.