Ice’s US Treasury clearing proposal earns positive reviews
Rule book ticks many of the right boxes on default management – a prerequisite for ‘done-away’ clearing
US Treasury clearing rules proposed by Ice last week are being received positively within the industry, with sources indicating that the way the clearing house plans to handle client defaults could give it the edge over rivals.
In the event of a client default, clearing members at Ice can either close out the defaulting client’s positions themselves or leave this to the clearing house.
That
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