The US Securities and Exchange Commission (SEC) has approved an application by LCH's CDSClear unit for registration as a clearing agency. The authorisation, granted on December 29, 2016, allows LCH to begin clearing single-name credit default swap (CDS) contracts for US clients.
The move is expected to boost competition in a business currently dominated by Ice Clear Credit, which launched client clearing for single-name CDSs in June 2013. CME Group registered with the SEC to clear single-name CD
The week on Risk.net, May 12-18, 2018Receive this by email