CME Group
has become the first US exchange to win approval from its main regulator to
offer central counterparty (CCP) clearing for credit default swaps, through CMDX,
its joint venture with Citadel Investment Group.
In Europe, NYSE Euronext’s exchange Liffe became the first
exchange worldwide to actually start clearing CDS through a CCP on December 22,
when it began offering the service for European CDS index trades.
Reaching
this point...