The Clearing Corporation (CC) has requested regulatory approval from the Commodity Futures Trading Commission (CFTC) to implement the first phase of a 'global clearing link' joint project with Eurex Clearing.The first phase, expected to launch upon completion of the CFTC review, will allow CC’s US-based clients to clear derivatives traded on Eurex in Frankfurt. The arrangement will allow US customers to maintain combined collateral pools for both their US dollar positions and their positions in Euro-denominated derivatives, including futures and options referencing the German Bund and Dow Jones Euro Stoxx 50.
The next phase of implementation will allow members of Eurex Clearing to clear and portfolio margin US and European benchmark products traded on Eurex US.
Full implementation is expected by the third quarter, and is subject to further approval from the CFTC, which is accepting public comment until May 14.
More on Exchanges
Stock exchange group has “excess cash”, says group CEO
Increased volatility will spur demand for risk management tools in Asia
Onshore derivative market is the focus for Osaka Securities Exchange
China exchange developing technique to reduce margin requirements
Sign up for Risk.net email alerts
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
Nominated for two technology awards
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.