Two senior executives who helped IntercontinentalExchange become the first exchange to clear credit default swaps are leaving the Atlanta-based derivatives market.

Ice said in a statement yesterday that Sunil Hirani, senior vice-president and corporate development officer, who co-founded Creditex in 2000 and was its chief executive up until the inter-dealer broker's sale to Ice, will depart to pursue other opportunities. He will, however, continue as an adviser to Ice.