Qualified U.S. market participants may have access to the joint NYSE Euronext-LCH.Clearnet centralized CDS clearing application via Bclear launched in Europe on 22 December.
It became possible due to SEC’s granting exemptive relief to NYSE Euronext’s derivatives group, Liffe, and LCH.Clearnet Ltd.
“We are grateful to the SEC for their expeditious review and approval of the Bclear CDS clearing solution,” says Duncan Niederauer, CEO of NYSE Euronext. “This approval is an essential step in providing qualified US clients access to our in-production, central counterparty clearing solution to meaningfully improve efficiency and reduce systemic risk in the global credit default swap marketplace.”
L.D.