Major dealers commit to clear 95% of CDSs by next month

Derivatives dealers have pledged to clear 95% of all new eligible individual credit default swap (CDS) trades, based on notional value, with approved central counterparties (CCPs) by the end of next month.

In its latest letter to the Federal Reserve Bank of New York and 14 other regulators and central banks in the US, Europe and Japan, 15 major derivatives dealers and the International Swaps and Derivatives Association - known collectively as the G15 - also committed to collectively clearing at

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