Emir compels clearing surge

Share of cleared interest rate derivatives climbs to 58%

European clearing obligations succeeded in pushing more derivatives trades through central counterparties (CCPs), a report by the European Securities and Markets Authority (Esma) shows.

The share of cleared interest rate derivatives rose to 58% from 40% over the course of 2017, equivalent to €266 trillion of notional exposure, and that for credit derivatives to 27% from 25%, around €3.2 trillion in notionals.

These two categories made up the vast majority of total cleared swaps. 

Currency

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