HCH is pleased to introduce Intercontinental Exchange as the new majority shareholder in HCH
- Clearing
HCH is pleased to introduce Intercontinental Exchange (ICE) as the new majority shareholder in HCH. ICE has entered into an agreement with ABN AMRO Clearing Bank to acquire a majority share in HCH. ABN AMRO Clearing Bank will remain a minority shareholder. Completion of the transaction is subject to regulatory approval and other closing conditions. The transaction is expected to close in the fourth quarter of 2014.
HCH will continue to be headquartered in Amsterdam, and remains fully committed to service its clearing participants and TOM (The Order Machine) with its experienced staff. With ICE as a new partner, HCH’s objective to become a leading CCP in Euro-denominated derivatives is strengthened. HCH’s management and supervisory board are convinced that the partnership contributes to the objectives of HCH, TOM and industry participants.
Joost Beckers, CEO HCH said: “We are excited to welcome ICE as a new shareholder, and together with ICE we will continue to service TOM and our clearing participants competitively. The support of ICE will add to HCH’s strengths, and through robust and efficient services, HCH is well positioned for growth."
About HCH
HCH is a Derivatives Central Counter Party. Our offering is focused on providing a reliable service against transparent and predictable pricing using robust risk management systems. HCH is regulated and supervised in the Netherlands by the Authority for the Financial Markets (AFM) and the Dutch Central Bank (DNB).
About ICE
Intercontinental Exchange (NYSE: ICE) is the leading network of regulated exchanges and clearing houses for financial and commodity markets. ICE delivers transparent, reliable and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures and Liffe.
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