On 30 July 2009, in response to the industry commitment on 17 February to introduce central counterparty in over-the-counter (OTC) credit default swaps (CDS) in Europe by the end of July 2009, Eurex Credit Clear successfully started CDS clearing. Eurex Credit Clear offers immediate access to asset managers to its central counterparty clearing platform in CDS.
Novation of OTC CDS to central counterparty at Eurex Credit Clear is delivered through its interlink with the Depository Trust & Clearing Corporation (DTCC) Trade Information Warehouse (TIW), giving asset managers a seamless, straight-through processing integration between the existing OTC market infrastructure and the central counterparty, Eurex Clearing (see figure 1).
To read this article in full, please click on the link below.
More on Clearing
Progress slowed by lack of standardisation and fear of triggering regulatory mandate
But monopoly or duopoly inefficient, BNY Mellon says
The German company was among the first CCPs to comply with Emir
US regulator will pursue a quicker route to exempt foreign CCPs
Sign up for Risk.net email alerts
Sponsored video: MarketAxess
Sponsored video: Tradeweb
Multifonds talks to Custody Risk on being nominated for the Post-Trade Technology Vendor of the Year at the Custody Risk Awards 2014
Sponsored webinar: IBM Risk Analytics
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.