ICE Clear Europe Joins Baton Network

Baton Systems, the market solution transforming asset movements and settlements, announced that it has completed connecting to Intercontinental Exchange (ICE), a leading global provider of data, technology, and market infrastructure, making ICE Clear Europe the 5th major global CCP available on the Baton network. All FCMs using Baton will now be able to automate and optimise collateral holdings and expedite the movement of cash and securities with the CCPs of greatest strategic importance to their business. These firms include the world’s largest financial institutions, responsible for managing 43% of the funds held by global CCPs. According to a story in MarketsMedia news, Citi recently became the first FCM to connect to ICE Clear Europe and benefit from the extended CCP network.