CHICAGO, Nov. 21, 2012 /PRNewswire/ -- CME Group, the world's leading and most diverse derivatives marketplace, announced today the Commodity Futures Trading Commission (CFTC) has provisionally approved CME Repository Service as a swap data repository (SDR) for credit default swaps, interest rate swaps, commodities and foreign exchange asset classes. CME Group will waive all reporting fees for its Repository service through September 30, 2013, including back-loaded trades.
"CME Repository Service is a natural extension of the clearing and processing services we offer to both sell- and buy-side clients, providing a compliant, efficient and low-cost way for market participants to access an SDR," said Kim Taylor, President, CME Clearing and President, CME Repository Service. "As market participants look for alternatives in the SDR space, our service offers them the ability to optimize their existing connections to CME Clearing for automatic SDR reporting, which delivers a lower-cost option for firms transitioning to the clearing mandate."
Market Participants will be able to direct swap trades to the CME Repository by using existing CME interfaces and 3rd party connectivity points, thereby maximizing efficiencies and avoiding the additional cost associated with establishing connectivity to other SDRs. In addition to the straight through processing benefits of CMEs Repository Service, CME will also offer an optional valuation reporting service for clients that use CME daily settlements to value their cleared positions each day. Market Participants will be able to view their top day and historical data in the SDR via a user-friendly web portal.
For more information about CME Repository Service, please visit http://www.cmegroup.com/repository.
As the world's leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) is where the world comes to manage risk. CME Group exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. CME Group brings buyers and sellers together through its CME Globex® electronic trading platform and its trading facilities in New York and Chicago. CME Group also operates CME Clearing, one of the world's leading central counterparty clearing providers, which offers clearing and settlement services across asset classes for exchange-traded contracts and over-the-counter derivatives transactions. These products and services ensure that businesses everywhere can substantially mitigate counterparty credit risk.
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SOURCE CME Group