CME Group expands 'Open Clearing Solution'

The following is from the CME Group...

CHICAGO, Sept. 12, 2011 /PRNewswire/ -- CME Group, the world's leading and most diverse derivatives marketplace, today announced it set new daily and monthly records for clearing both interest rate swaps (IRS) and credit default swaps (CDS).

CME Group cleared daily customer volume records of $827 million of IRS on September 9, and over $1 billion of CDS on September 8.

Additionally, CME Group has set monthly records for volume cleared in September. The company has cleared over $1.5 billion in interest rate swap customer volume in September to date, exceeding the previous record monthly total of $1.2 billion in August. The company also has cleared $2.4 billion in credit default swaps customer volume in September to date, surpassing the previous record monthly total of $287 million in August.

Due to customer demand to clear multi-currency IRS portfolios, the company also announced plans to expand its existing U.S. dollar-denominated IRS offering to include Euro-denominated swaps in October 2011 and British pound, Japanese yen, Swiss franc and Canadian dollar-denominated swaps by year-end.

"We have worked with market participants to design a range of open clearing solutions to meet their needs, and we are pleased to have clients clearing their OTC business with us ahead of the Dodd-Frank mandate," said Laurent Paulhac, Managing Director, OTC Products & Services. "With these early adopters and a strong pipeline of firms testing our solution, we are encouraged by the support our customer base is showing for our OTC clearing initiatives."

To learn more about CME Group's OTC clearing offering, visit our resources on IRS and CDS.

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