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CME Begins Clearing Euro-Denominated IRS
Derivatives marketplace CME Group has started clearing euro-denominated interest rate swaps extending the company’s current U.S. dollar-denominated interest rate swaps clearing service.
Derivatives marketplaceCME Grouphas started clearing euro-denominated interest rate swaps (IRS) extending the company’s current U.S. dollar-denominated interest rate swaps clearing service. It cleared $8 billion in U. S. customer volume on Tuesday, a new daily record for IRS clearing.
CME has cleared some $67.3 billion in OTC volume since launching its OTC clearing services and is looking at further expansion by introducing the British pound, Japanese yen, Swiss franc and Canadian dollar-denominated IRS by the year-end. These currencies make up 94 percent of the vanilla IRS market, according to theBank for International Settlements.
Click here for the release fromCME Group.