CME Group Inc, which runs the world’s biggest clearinghouse for futures contracts, plans to start clearing over-the-counter interest-rate contracts in 2010, an executive said on Wednesday.
A sweeping financial regulatory reform bill that won passage this month in the House will require trading and clearing of a swath of derivatives currently traded away from regulated exchanges. CME is among several clearinghouses that aim to take advantage of the new requirements.
“We continue to work with a group of large buyside accounts and dealer firms” on interest-rate clearing, CME director Elizabeth Flores told reporters on a conference call. CME is “still anticipating a launch later this year.”
Clearing for over-the-counter currency contracts is on a slower track, managing director Derek Sammann said on the same call.
