CHICAGO, Oct. 3, 2011 /PRNewswire/ -- CME Group, the
world's leading and most diverse derivatives marketplace, today
announced that it set new monthly records for clearing both
interest rate swaps (IRS) and credit default swaps
(CDS). As of September
30, the company has cleared more than $45 billion in OTC interest rate swaps (IRS) and
credit default swaps (CDS) through its open clearing solutions
since their launch.
For the month of September, the company cleared over
$35.5 billion in customer volume in
IRS, exceeding the previous record monthly total of $1.2 billion in August. The company also
cleared $6.5 billion in customer
volume in CDS in September, surpassing the previous record monthly
total of $287 million in
August. As of September
30, open interest stood at $34.2
billion in IRS and $5.9
billion in CDS.
The company confirmed that it will expand its existing U.S.
dollar-denominated IRS offering on October
17, 2011, to include Euro-denominated IRS. By
year-end, CME Group will expand its CDS offering to include CDX
high yield indices, and will extend its IRS offering to include the
British pound, Japanese yen, Swiss franc and Canadian
dollar-denominated IRS.
"CME Group is pleased to have 15 clearing members with
approximately 500 customer accounts actively clearing trades ahead
of the Dodd-Frank clearing mandate," said Laurent Paulhac, Managing
Director, OTC Products & Services. "With more than 2,500
customer accounts in the pipeline, we will continue to help our
customers advance towards clearing in order to reduce their
counterparty credit risk."
"Barclays Capital has been very active in testing and
clearing transactions for clients at CME Group. This early
and voluntary activity provides a controlled environment in
which all participants can properly prepare infrastructure,
check operational readiness, and evaluate the end-to-end
process," said Ray Kahn, head of OTC
derivatives clearing at Barclays Capital. "The recent increase
in cleared OTC volume is important to help ensure that
all parties are ready to meet the mandatory requirements ahead of
time."
"Credit Suisse is pleased to work closely with CME Group and our
clients to progress the OTC clearing offering overall and see
material volume go through the platform," said Jeff Jennings, Global Head of Futures and OTC
Clearing at Credit Suisse. "Increased clearing volumes and active
participation in the clearing process helps ensure operational
readiness for participants in advance of the introduction of any
mandatory clearing requirements."
To learn more about CME Group's OTC clearing offering, visit our
resources on IRS and CDS.
As the world's leading and most diverse derivatives marketplace,
CME Group (www.cmegroup.com) is where the world comes to manage
risk. CME Group exchanges offer the widest range of global
benchmark products across all major asset classes, including
futures and options based on interest rates, equity indexes,
foreign exchange, energy, agricultural commodities, metals, weather
and real estate. CME Group brings buyers and sellers
together through its CME Globex® electronic trading platform and
its trading facilities in New York
and Chicago. CME Group also operates CME Clearing, one of the
world's leading central counterparty clearing providers, which
offers clearing and settlement services for exchange-traded
contracts, as well as for over-the-counter derivatives transactions
through CME ClearPort®. These products and services ensure that
businesses everywhere can substantially mitigate counterparty
credit risk in both listed and over-the-counter derivatives
markets.
CME Group is a trademark of CME Group Inc. The Globe Logo, CME,
Globex and Chicago Mercantile Exchange are trademarks of Chicago
Mercantile Exchange Inc. CBOT and the Chicago Board of Trade are trademarks of the
Board of Trade of the City of
Chicago, Inc. NYMEX, New York Mercantile Exchange and
ClearPort are registered trademarks of New York Mercantile
Exchange, Inc. COMEX is a trademark of Commodity Exchange,
Inc. All other trademarks are the property of their
respective owners. Further information about CME Group (NASDAQ:
CME) and its products can be found at www.cmegroup.com.
CME-G
SOURCE CME Group