CHICAGO, May 23, 2018 /PRNewswire/ -- CME Group, the
world's leading and most diverse derivatives marketplace, today
announced its first cleared trades in Colombian Peso (COP) and
Chilean Peso (CLP) Rate Swaps. CME began offering clearing on COP,
CLP and Chinese Yuan (CNY) on Monday May
21.
"With the success of our non-deliverable swap clearing in
Brazilian Real, Indian Rupee, and Korean Won, we are excited to
launch these three additional currencies of non-deliverable swaps
based on strong client demand," said Sean
Tully, Senior Managing Director of Financial and OTC
Products for CME Group. "Our market-leading 24 interest rate swap
currencies available for clearing offer our global customers the
greatest possible margin and capital efficiencies, while furthering
our lead in emerging market swaps clearing."
"As marketplace demand for clearing continues to increase, Citi
is pleased to be one of the first banks to trade Chilean Peso and
Colombian Peso Swaps clearing at CME," said Rodrigo Couto, Managing Director, Citi. "As
costs of the uncleared swap markets continue to increase, there is
more need to have a cleared solution to maintain maximum liquidity
and balance sheet utilization in Emerging Market
portfolios."
"Standard Chartered is excited to be a market leader in
clearing Chilean and Colombian Peso Swaps at CME, and fully service
our clients' broad spectrum of Rates and FX needs," said
Jens Andersen, Co-Head of Financial
Markets and Head of FXRC Trading, Americas, Standard Chartered. "As
global margin rules continue to be implemented, a solution that
maintains efficient liquidity and maximizes capital utilization in
the market is vital to facilitate trade flows. We are pleased to
partner with CME and support our clients with consistent liquidity
in the Emerging Markets."
The launch of these new currencies represents CME Group's
efforts to expand its cleared OTC IRS offerings based on client
demand, and allows for global market participants to access
liquidity and participate in clearing in all regions. Most
recently, CME launched clearing for Indian Rupee (INR) and Korean
Won (KRW) swaps, which have more than 40 market participants who
have cleared more than $80 billion
since launching in July 2017.
CLP, COP and CNY interest rate swaps are all non-deliverable,
allowing CME Group to offer customers more convenient, innovative
settlement procedures.
For more information on CLP, COP or CNY IRS clearing at CME
Group, please visit
http://www.cmegroup.com/trading/otc/clearing-chilean-peso-colombian-peso-chinese-yuan.html
As the world's leading and most diverse derivatives marketplace,
CME Group (www.cmegroup.com) is where the world comes to manage
risk. CME Group exchanges offer the widest range of global
benchmark products across all major asset classes, including
futures and options based on interest rates, equity
indexes, foreign exchange, energy, agricultural
products and metals. Around the world, CME Group
brings buyers and sellers together through its CME Globex®
electronic trading platform. CME Group also operates one of
the world's leading central counterparty clearing providers
through CME Clearing, which offers clearing and settlement
services across asset classes for exchange-traded and
over-the-counter derivatives. CME Group products and services
ensure that businesses around the world can effectively manage risk
and achieve growth.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange,
Globex and E-mini are trademarks of Chicago Mercantile Exchange
Inc. CBOT and Chicago Board
of Trade are trademarks of Board of Trade of the City of Chicago, Inc. NYMEX, New York
Mercantile Exchange and ClearPort are trademarks of New York
Mercantile Exchange, Inc. COMEX is a trademark of Commodity
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CME-G
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SOURCE CME Group