ICE Said Close to Start of Credit-Swap Futures That Mimic Index
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IntercontinentalExchange Group Inc., owner of the world’s largest credit-default swap clearinghouse, is close to offering futures on the most-active derivative indexes.
The new contracts will replicate the lineup of companies included in the investment-grade and high-yield swap indexes owned by Markit Group Ltd., according to a person with knowledge of the plan. ICE, as the company is known, failed in an earlier effort at credit-swaps futures that sought to give investors a way to bet on improving or deteriorating credit markets.