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CME Group Inc. said on Monday that it had begun clearing interest rate swaps, the largest of the over-the-counter derivatives markets that lawmakers are forcing through more transparent venues.
The giant futures exchange operator named as participants in the clearinghouse five buyside firms, including Fannie Mae, Freddie Mac and PIMCO, and 10 dealers, including Goldman Sachs Group Inc. and JPMorgan Chase and Co. Get the full story »
CME Group Inc., which operates one of the world’s biggest clearinghouses, is planning a soft launch for interest-rate swaps clearing by the end of 2010, its chief financial officer said Tuesday.
CME staffers are working daily with dealers and buy-side market participants to prepare for the launch, CME Chief Financial Officer Jamie Parisi said at a Barclays Capital conference for analysts and investors. Get the full story »
The U.S. House of Representatives team negotiating derivatives reforms is attempting to tighten a debated loophole that would allow some companies to avoid new rules for the $615 trillion over-the-counter market, according to a document obtained Wednesday.
House negotiators offered a new approach to the so-called “end-user exemption” provided to manufacturers and other non-financial companies who want to avoid the extra costs associated with clearing and trading swaps — one of 110 changes proposed to the derivatives section of the bill as a Thursday deadline looms. Get the full story »
