IntercontinentalExchange, the Atlanta-based energy market, has underlined its ambitions to expand into the lucrative clearing business, by launching a central counterparty in Europe just four days after purchasing a US clearing house for credit derivatives.

Ice said it will today transfer all of its European exchange and over-the-counter positions to its new European clearing house, ICE Clear Europe, from its incumbent clearer, London-based LCH.Clearnet.