Citadel-CME Derivative Clearing Facility Approved

Dec 29 2008 | 4:25am ET

A credit-default swap clearinghouse proposed by hedge fund giant Citadel Investment Group is a step closer to reality.

The Commodity Futures Trading Commission gave its approval to the joint venture by Citadel and the CME Group, the world’s largest futures exchange. Citadel and the CME plan to use the Chicago Mercantile Exchange’s existing clearing facility; a rival CDS clearinghouse proposed by a group of Wall Street giants plans to set up a separate clearing facility.

The CME-Citadel CDS clearinghouse could debut soon. A European clearing facility debuted last week.


In Depth

Q&A: Sancus Capital And The Disruption Of The CLO Market

Oct 5 2017 | 6:28pm ET

Traditional collateralized loan obligation (CLO) funds in the U.S. market can offer...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Finding Success as Alternatives Converge

Oct 9 2017 | 4:00pm ET

Rising interest among institutional investors over the past several years has led...

 

From the current issue of