CFTC Registered Swap Data Repository Service Offering for Credit, Interest Rate, Commodities, and FX Asset Classes Seamlessly Integrates with CME Clearing
CME Group, the world’s leading and most diverse derivatives marketplace, announced today the Commodity Futures Trading Commission (CFTC) has provisionally approved CME Repository Service as a swap data repository (SDR) for credit default swaps, interest rate swaps, commodities and foreign exchange asset classes. CME Group will waive all reporting fees for its Repository service through September 30, 2013, including back-loaded trades.
“CME Repository Service is a natural extension of the clearing and processing services we offer to both sell- and buy-side clients, providing a compliant, efficient and low-cost way for market participants to access an SDR,” said Kim Taylor, president, CME Clearing and president, CME Repository Service. “As market participants look for alternatives in the SDR space, our service offers them the ability to optimize their existing connections to CME Clearing for automatic SDR reporting, which delivers a lower-cost option for firms transitioning to the clearing mandate.”
Market Participants will be able to direct swap trades to the CME Repository by using existing CME interfaces and 3rdparty connectivity points, thereby maximizing efficiencies and avoiding the additional cost associated with establishing connectivity to other SDRs. In addition to the straight through processing benefits of CMEs Repository Service, CME will also offer an optional valuation reporting service for clients that use CME daily settlements to value their cleared positions each day. Market Participants will be able to view their top day and historical data in the SDR via a user-friendly web portal.
For more information about CME Repository Service, please visit http://www.cmegroup.com/repository.
