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Eurex said it can immediately provide a global solution for trading and clearing of credit derivatives and thereby supports Commissioner McCreevy’s call for action to improve market infrastructure in trading and clearing of OTC derivatives, most importantly credit default swaps (CDS).
“Eurex has an immediately available ‘ready-to-use’ solution for trading and clearing of CDS”, CEO Andreas Preuss said. “We are open to create a consortium with the CDS users to share governance and control of the CDS services.”
Eurex announced in early October its offer to build a consortium structure aiming to provide shared governance and control to the users.