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WFE Focus April 2011
Post trade

Clearstream launches settlement link to Malta

Clearstream included Malta, the last missing Eurozone country, in its settlement network on 11 April 2011. The new cross-border settlement link will be operated by the Malta Stock Exchange and will allow international investors to access Maltese securities. The link connects the Malta stock market with Clearstream Banking Frankfurt, the central securities depository for the German domestic market.

CME Clearing Europe launches European clearing services

CME Clearing Europe, a wholly-owned London-based subsidiary of CME Group, will begin clearing more than 150 OTC energy and commodity derivative products beginning 6 May 2011. The organization plans to add clearing services for OTC financial derivatives, beginning with interest rate swaps. Its aim is to offer a full multi-asset OTC clearing service, building on CME Group’s clearing experience.

Eurex Clearing will expand its services to OTC interest rate and equity swaps

Eurex Clearing plans to expand its Eurex OTC Clear service to include OTC-traded interest rate and equity derivatives. The new services will be introduced in the context of the upcoming regulatory reforms expected to require mandatory clearing for standardized OTC derivatives in the US and Europe. Currently, Eurex’s OTC Clear service comprises OTC-traded Eurex look-alike futures and options on equities and interest rates as well as Eurex Credit Clear, a clearing service for OTC credit default swaps. In addition, Eurex Clearing’s strategic agenda includes two further major initiatives focusing on risk management and safety for OTC derivatives.

IntercontinentalExchange introduces new cleared freight and iron ore contracts

On 18 April 2011, IntercontinentalExchange introduced clearing services for 13 freight swaps and a new iron ore swap through ICE Clear Europe. The new contracts are an extension of the energy portfolio cleared by ICE Clear Europe, and will provide additional capital efficiency and hedging benefits for participants in ICE’s OTC and energy futures markets. The new contracts will be offered on a cleared-only basis, subject to regulatory approval.

Qatar Exchange adopts DVP rules

Qatar Exchange has adopted Delivery Versus Payment (DVP) rules. After extensive consultations with market participants, global custodians, international investors and regulators, the Exchange has issued the new rules and operational procedures for its upcoming DVP implementation. The new rules have been implemented on 11 April 2011.

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