LCH.Clearnet SA will launch a credit default swap clearing offering in December this year in response to regulator and market demand. The first phase of the launch will cover iTraxx European indices.
LCH.Clearnet SA will launch a credit default swap clearing offering in December this year in response to regulator and market demand. The first phase of the launch will cover iTraxx European indices. Single names and US indices will be considered in a second phase planned for 2010.
Within Europe, the European Commission and the ECB have called for a European clearing house to clear CDS trades executed in the region. Furthermore, in early February, the commission asked the European Parliament to support legislation requiring banks in the EU to use a Clearing House in the region to clear CDS.
Press release
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