The four derivatives exchanges preparing to clear credit default swaps presented their plans at a meeting in London hosted by the International Swaps and Derivatives Association yesterday (Thursday January 8).
Liffe, the CME Group, Intercontinental Exchange and Eurex gave separate presentations, so that representatives of each were not able to hear the others’ plans.
But banks and broker-dealers, as well as officials from the team of Charlie McCreevy, EU internal market commissioner, were present throughout, and...