CME Group has added BNY Mellon Clearing as a clearing member firm to clear over-the-counter (OTC) interest rate swaps on behalf of its institutional clients. Due to the recent regulatory changes, a large percentage of derivatives transactions are likely to be cleared through central clearinghouses.
BNY Mellon Clearing provides direct clearing services with major exchanges and central clearinghouses, including the New York Mercantile Exchange and the Chicago Board of Trade. The company is looking to expand the number of exchanges it clears through, as also its operations globally.
Click here for the release from PR Newswire.