CME restructures US CDS clearing service
The Chicago Mercantile Exchange (CME) Group has restructured its US credit default swap (CDS) clearing venture after market participants indicated a preference to continue trading over-the-counter.
When CME Group set out its plans for CDS clearing in October last year, the exchange said it would launch the "first electronic trading platform that is fully integrated with a central counterparty clearing facility for CDSs". However, the firm this month said it would offer a clearing-only service
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