Eurex Clearing presented its central clearing solution for credit default swaps to the New York Federal Reserve Bank on Friday October 10, becoming the latest candidate to bid for a piece of the action when CDS clearing becomes a reality.
The presentation, supported by the European Central Bank, comes as US regulators are goading the CDS market to speed up its reform towards a more stable and transparent structure.
Eurex said it intends to build a consortium structure. A spokesperson for Eurex in Frankfurt said this would comprise “interested market participants” to provide “shared governance...