IntercontinentalExchange to Create a Swap Execution Facility

IntercontinentalExchange Inc. (ICE), owner of the world’s largest credit-default swap clearinghouse, will create a trading system for the contracts.

ICE Swap Trade will be supported by Citigroup Inc. (C), Morgan Stanley (MS), Societe Generale SA (GLE) and UBS AG (UBSN) and is expected to begin operations by the end of September, the Atlanta-based company said in an e-mailed statement today.

To contact the reporter on this story: Matthew Leising in New York at mleising@bloomberg.net

To contact the editor responsible for this story: Alan Goldstein at agoldstein5@bloomberg.net

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