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
Regional banks and prop shops eye direct membership, but FCMs see few benefits
Asean OTC derivatives market is not big enough to warrant clearing
Clearing and settlement infrastructure needs to be set up to boost cross-border trading
Risk Derivatives Clearing: EU stance on equivalence is "unfortunate", CFTC lawyer says
Sign up for Risk.net email alerts
Sanjay Sharma talks about risk transparency and how his book helps achieve it.
A five-minute formula from Alexander Denev that takes you through a simple probabilistic graphical model and explains how and why these are used. Find out more about the ground-breaking book, Probabilistic...
Industry leader Vincent Kaminski discusses the challenges faced by energy markets and his new book, Managing Energy Price Risk, 4th Edition.
Momtchil Pojarliev talks about his book, The Role of Currency in Institutional Portolios, currency investing and the potential role of currencies in institutional portfolios.
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.