US M&A boom intensifies as ICE prepares to acquire stake in Dutch clearing house HCH

Intercontinental Exchange (NYSE: ICE), one of the world’s most prominent network of exchanges and clearing houses, today announced that it has agreed to make a strategic investment in the Holland Clearing House, a continental European clearing house, to support its comprehensive clearing strategy for financial products. ABN Amro Clearing will retain a minority interest in the venture.

Holland Clearing House (HCH) is a continental European derivatives clearing house based in Amsterdam and is the primary clearing house for the TOM multi-lateral trading facility. HCH is regulated and supervised in the Netherlands by the Authority Financial Markets (AFM) and the Dutch Central Bank (DNB). The amount of consideration for the investment is not material to ICE and terms were not disclosed. The transaction is subject to regulatory approval and other ordinary closing conditions and is expected to close during the fourth quarter of 2014.

Said Paul Swann, President of ICE Clear Europe: “We are pleased to work with ABN Amro Clearing Bank, as well as with TOM and HCH, to further develop our European clearing businesses.”

Said Joost Beckers , CEO of HCH: “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.”

ICE currently operates five clearing houses, and is developing ICE Clear Singapore for launch in the coming months. ICE operates the London-based ICE Clear Europe, with HCH representing ICE’s first continental European clearing house.

For the full release from ICE, click here

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