LCH.Clearnet's re-launched CDS clearing service adopts a loss-sharing mechanism - in line with a "last gasp of breath" approach outlined in an Isda letter to the Bank of England
A third of the figure was cleared in the last month alone - and volumes are expected to increase rapidly as clearing deadlines approach
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More Clearing articles
Plan to combine four clearing houses into one will result in margin efficiencies of 30-40%, the exchange estimates
US firm takes steps to co-ordinate the reporting of OTC trades between different Asian locations
Added cost and mutualised risk will discourage direct clearing participation, panel concludes
CSDs in harmony?
Push, ping or hub
Regulators are unlikely to insist local currency trades be cleared domestically, says CFTC chair
Collateral demands will be pro-cyclical - rising as markets become stressed - and will be generated by uncleared as well as cleared trades, DE Shaw treasurer tells Isda conference
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