Inside these posts: Derivatives clearinghouse

Visit our Filed page for categories. To browse by specific topic, see our Inside page. For a list of companies covered on this site, visit our Companies page.


NYSE to launch direct challenge to CME March 21

NYSE Euronext will launch its long-awaited challenge to CME Group’s lucrative interest rate futures franchise on March 21, the exchange operator said on Wednesday.

The launch highlights the importance of the derivatives business to the operator of the world’s best known stock exchange, which agreed last month to be taken over by Germany’s Deutsche Boerse AG. The combination would dominate European futures trading, even as the NYSE tries to win a foothold in U.S futures, where CME is the biggest player. Get the full story »

CME to offer margining plan for rates, Treasuries

CME Group Inc. on Monday unveiled a cross-margining plan that would help customers trading both interest rate and Treasury futures, as the world’s largest derivatives exchange prepares for more competition.

The move by the Chicago Mercantile Exchange parent to create a new clearing membership class comes weeks before rival NYSE Euronext is expected to launch a similar cross-margining platform. Get the full story »

Nasdaq, ICE consider bid on NYSE

Nasdaq OMX and IntercontinentalExchange are in talks to team up on a possible bid for NYSE Euronext, in an attempt to break up the Big Board’s deal with Deutsche Boerse, the New York Times’ Dealbook reported on Friday. Get the full story »

Regulator: Swap trading venues may miss deadline

Swaps trading venues, a centerpiece of legislation overhauling derivatives, may need to be phased in later than planned because many will miss an October 15 deadline for meeting self-policing requirements, a Chicago-based regulator said.

The potential delay, flagged late Tuesday by National Futures Association President Daniel Roth in comments to a group of Chicago trading executives, represents a potential new setback as regulators rush to write rules for the sweeping Wall Street reform, known as the Dodd-Frank act, that was passed last summer. Get the full story »

NYSE clearinghouse rival to CME wins approval

New York Portfolio Clearing, a start-up clearinghouse co-owned by NYSE Euronext, won regulatory approval to clear derivatives, paving the way for competition with futures exchange giant CME Group Inc.

NYPC, jointly owned by the Big Board’s parent and the Depository Trust and Clearing Corp, will clear interest rate futures offered by NYSE Euronext’s U.S. futures exchange, NYSE Liffe, a statement from the U.S. Commodity Futures Trading Commission said. Get the full story »

CME prepays $420 million loan, saves $3 million

Derivatives exchange operator CME Group Inc. said Thursday it has paid off a $420 million loan to complete the refinancing of a three-year debt agreement.

The original credit and term loan agreement, due to mature in August, was replaced with a $1 billion revolving credit agreement with an expiration of January 2014. Get the full story »

CME sees jump in swaps clearing later this year

CME Group, which began clearing interest-rate swaps in October, expects a jump in business this year after a U.S. legislative mandate on clearing goes into effect, a CME executive said on Monday. Get the full story »

ICE withdraws application to clear derivatives

ICE Trust, the unit of exchange operator IntercontinentalExchange Inc. dedicated to clearing credit-default swaps, has withdrawn its application to be a derivatives clearing organization registered with the Commodity Futures Trading Commission in response to changes proposed by the regulator.

ICE filed the application Nov. 12, but a spokeswoman told Dow Jones Newswires on Thursday that it decided to withdraw it, “given the significant changes proposed to the commission regulations” for derivatives-clearing organizations, or DCOs. Get the full story »