New York Portfolio Clearing, the derivatives clearing house joint venture between DTCC and NYSE Euronext, has cleared more than a million trades since it launched March 21.
In that short time frame, it has made no secret of its aim to challenge CME Group, which traditionally has dominated the US derivatives clearing space. And its ambitions lie well beyond the US it recently announced a partnership with the Canadian Derivatives Clearing Corporation, which, if it goes well, could mean similar links with clearing houses elsewhere.
Global Custodians Christopher Gohlke met up with Walt Lukken, CEO of NYPC and former chairman of the Commodity Futures Trading Commission, at the New York Stock Exchange to discuss the new derivatives clearing house.