BNP Paribas Corporate and Investment Banking unit has joined CME Group to clear over-the-counter (OTC) interest rate derivatives as a futures commission merchant. The firm will join the service through its U.S. registered broker BNP Paribas Securities.BNP Paribas Securities will complete mandates that require interest rate derivatives between firms to be cleared via a clearinghouse. The clearing solution will also allow the lender’s customers to become compliant with the client clearing requirements of the Dodd-Frank Act.
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