S&P GSCI Index Commodity Swaps to clear on CME ClearPort
Standard & Poor's has signed a licensing agreement with CME Group to clear swaps on the S&P GSCI Excess Return Index.
The over-the-counter product will be based on the benchmark commodities index calculated by Standard & Poor's. It will be accessible via CME ClearPort from 16 March following certification to the Commodity Futures Trading Commission.
Alex Matturri, executive managing director for Standard & Poor's index services, said: "Standard & Poor's is excited to bring additional flexibility to the marketplace by licensing this closely followed benchmark to our longtime exchange partner, CME Group."
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