DTCC ‘will prevail’ in UST clearing, says CME’s Duffy
CME boss says LCH-FMX cross-margining deal could face obstacles, and acknowledges difficulties at BrokerTec
CME Group chairman and chief executive Terry Duffy has talked down the CME’s prospects of victory in the US Treasury clearing market, saying he expects the Depository Trust & Clearing Corporation (DTCC) to continue to dominate the sector.
“Ultimately DTCC will be the prevailing clearing house to clear cash Treasuries,” Duffy told the Barclays Financial Services Conference in New York on September 9.
In a wide-ranging conversation, he also suggested any cross-margin arrangement between LCH and BGC
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