IntercontinentalExchange cleared €6bn ($8.55bn) in European credit-derivatives contracts in the first week of operation.

ICE's first-week figure for Europe tops the approximate $7bn in credit-default-swap trades handled by its ICE Trust facility in its debut week in the US, and dwarfs that of rival Eurex, which also began clearing European swaps last week but reported €25m in total business Friday. Eurex is owned by Deutsche Börse and Switzerland's SIX Swiss Exchange.