First OTC clearing wave to catch 77 fund managers


More than 200 funds owned by 77 fund managers will be caught when mandatory clearing for over-the-counter swaps starts in the US next month, according to a list obtained by Risk – and dealers claim as much as a third of these entities are not yet ready. "You would think that all active funds have signed documents, gone through the onboarding process and are waiting for the go-live date, but that is not the case. It is a mad scramble right now," says one clearing expert at a US bank

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