Shearman & Sterling represented IntercontinentalExchange, Inc. (“ICE”) in connection with its acquisition of The Clearing Corporation (“TCC”) and the recently approved application of ICE US Trust, LLC (“ICE Trust”) to the Board of Governors of the Federal Reserve System to become a member of the Federal Reserve System. Shearman & Sterling LLP also represented ICE and ICE Trust in securing the necessary approvals for the acquisition of TCC and for ICE Trust to serve as a clearing house and central counterparty for the clearing of credit default swap transactions from the Board of Governors of the Federal Reserve System, the U.S. Department of Justice and the U.S. Securities and Exchange Commission. ICE today announced that ICE Trust would commence clearing credit default swap transactions and serving as a central counterparty for such transactions on Monday, March 9.

ICE operates regulated global futures exchanges and over-the-counter markets for agricultural, energy, equity index and currency contracts, as well as credit derivatives. ICE offers these markets to participants around the world through its technology infrastructure and trading platforms, together with clearing, market data and risk management services. ICE is headquartered in Atlanta, with offices in New York, London, Chicago, Winnipeg, Calgary, Houston and Singapore.

The Shearman & Sterling team was led by partners Peter Lyons (New York-Mergers & Acquisitions), Bradley Sabel (New York-Financial Institutions Advisory), Geoffrey Goldman (New York-Asset Management), Barney Reynolds (London-Finance), Wayne Dale Collins (New York-Antitrust), Michael Shulman (Washington, D.C.-Tax) and Abigail Arms (Washington, D.C.-Financial Institutions Advisory), as well as counsel Lisl Dunlop (New York-Antitrust) and Daniel Glazer (New York-Intellectual Property) and associates David Connolly (New York-Mergers & Acquisitions), Stephen Vander Stoep (New York-Mergers & Acquisitions), Sayo Kondo (New York-Mergers & Acquisitions), Gabrielle Larocque (New York-Mergers & Acquisitions), Jason Kakoyiannis (New York-Mergers & Acquisitions), Richard Fischetti (New York-Mergers & Acquisitions), Christian Gloger (New York-Asset Management), Michael Blankenship (New York-Asset Management), Steven Blau (New York-Asset Management), Thomas Donegan (London-Asset Management), Patrick Valenti (Washington, D.C.-Tax), Antonia Horrocks (London-Antitrust), Gloria Jung (New York-Intellectual Property), Veronica Wissel (New York-Executive Compensation & Employee Benefits) and Jordan Costa (New York-Capital Markets).

For more information, please contact: Ron Brandsdorfer | New York | T +1.212.848.5081 |