CME Group, the world’s leading and most diverse derivatives marketplace, made the following statement in response to the CFTC’s proposed rules specifying requirements for derivatives clearing organizations:
"CME Group supports efforts to reduce systemic risks in financial markets. For more than a century, CME Clearing has provided central counterparty clearing services, guaranteeing the performance of all financial obligations to market participants without a single failure. No customer has ever lost money due to a default of a clearing member firm to CME Clearing. We are in the process of reviewing the CFTC proposal and are committed to working with the CFTC, the SEC, and the Federal Reserve to maintain the safety and soundness in central counterparty clearing. We must ensure that the end result does not create unintended consequences that undermine the national policy of encouraging greater use of central counterparty clearing, reduce efficiencies or impose additional costs on clearing firms without adding risk management benefits."
