Derivatives marketplace CME Group has started clearing euro-denominated interest rate swaps (IRS) extending the company’s current U.S. dollar-denominated interest rate swaps clearing service. It cleared $8 billion in U. S. customer volume on Tuesday, a new daily record for IRS clearing.
CME has cleared some $67.3 billion in OTC volume since launching its OTC clearing services and is looking at further expansion by introducing the British pound, Japanese yen, Swiss franc and Canadian dollar-denominated IRS by the year-end. These currencies make up 94 percent of the vanilla IRS market, according to the Bank for International Settlements.
Click here for the release from CME Group.
CME Group U. S. International Settlements U.S. IRS