CME Group has added BNP Paribas Securities as a clearing member to clear credit default swaps (CDS). It will also be able to clear futures and over-the-counter (OTC) interest rate swaps.
BNP Paribas will also be able to fulfill regulatory mandates that require credit derivatives between financial institutions to be cleared via a clearinghouse. The clearing solution will also help the bank’s global clients to comply with the mandatory client clearing requirements of the Dodd-Frank Act.
Click here for the release from Market Wire.