CME swaptions clearing ready for November launch

Swaptions clearing members at CME must submit daily valuation data to the CCP or face hefty fines

CME headquarters

CME Group will begin clearing swaptions contracts as soon as November 3, pending approval from the Commodity Futures Trading Commission (CFTC), but dealers warn the service may not have widespread support in the near term. In particular, banks say it will take time to get comfortable with risk and default management procedures for what would be the most complex over-the-counter products cleared to date.

The move comes more than a year after the products were approved by CME's internal risk

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