CME Group clears first NDF trade
30 April 2012 Chicago
Image: Shutterstock
CME Group cleared its first customer FX OTC Non Deliverable Forward (NDF) trade, expanding the company's OTC solution across multiple asset classes.
The currency cleared was the Brazilian Real. The company also offers NDF clearing for the Chinese Renminbi Yuan, Philippine Peso, Malaysian Ringgit, Indian Rupee, Korean Won, Taiwan Dollar, Chilean Peso, Colombian Peso, Peruvian Sol, Russian Ruble and Indonesian Rupiah.
Laurent Paulhac, CME Group MD, OTC Products & Services said: "Clients see a lot of value in leveraging the same risk, operational and legal infrastructure across interest rate swaps, credit default swaps and foreign exchange. We continue to work with buy-side, sell-side and clearing member firms to further develop our overall OTC offering and FX has become a key priority for clients in the last few months."
"We are delighted to be working with CME Group to expand our OTC clearing footprint into FX," said Martine Bond, head of FX prime brokerage and clearing at Morgan Stanley. "Our OTC clearing and FX prime brokerage teams are at the forefront of innovation."
The currency cleared was the Brazilian Real. The company also offers NDF clearing for the Chinese Renminbi Yuan, Philippine Peso, Malaysian Ringgit, Indian Rupee, Korean Won, Taiwan Dollar, Chilean Peso, Colombian Peso, Peruvian Sol, Russian Ruble and Indonesian Rupiah.
Laurent Paulhac, CME Group MD, OTC Products & Services said: "Clients see a lot of value in leveraging the same risk, operational and legal infrastructure across interest rate swaps, credit default swaps and foreign exchange. We continue to work with buy-side, sell-side and clearing member firms to further develop our overall OTC offering and FX has become a key priority for clients in the last few months."
"We are delighted to be working with CME Group to expand our OTC clearing footprint into FX," said Martine Bond, head of FX prime brokerage and clearing at Morgan Stanley. "Our OTC clearing and FX prime brokerage teams are at the forefront of innovation."
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