LCH.Clearnet has launched a global consultancy certification program for OTC clearing via its interest rate swap (IRS) clearing service, SwapClear.
Five leading consultancies have already signed up to join the SwapClear Consultancy Certificication Programe (CCP2) global initiative, which provides certification and CCP-authorized resources to better inform industry practitioners at a time when buy-side participants begin to clear in earnest ahead of the regulatory mandate.
To date, four consultancies have become certified under the program: Accenture, Catalyst Development, Rule Financial and Sapient Global Markets. In addition, Deloitte has joined the program as a Knowledge Partner. CCP2 Knowledge Partner is a consultancy that has access to the knowledge and training resources of CCP2 but has not applied for or received certification.
The CCP2 program gets its name from the combined value that a central counterparty offering a consultancy certification program (CCP) can provide the marketplace. The certification process requires applicants to undergo an assessment of the depth and scope of their experience in OTC clearing. It also necessitates familiarity with some of its core components. Consultancies can register for certification in any of up to 10 categories, although approval is not guaranteed by SwapClear. Uncertified participation is also available for Knowledge Partners.
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