Canadian clearing house CDCC receives first rating from S&P

CDCC guarantees the contractual commitments of parties trading on the Montreal Exchange, clearing about 14 million transactions worth $200 billion last year. It said it is the only clearing house to offer clearing services for both futures and options in North America.

“Obtaining a credit rating is an important step for the CDCC,” said Michel Favreau, chief clearing officer at the Montreal Exchange. “The CDCC plans to promote the advantages it can offer investors involved in over-the-counter trading who face high counterparty risk,” he added.

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