Central clearing house slated for Q3 launch
Chicago-based clearing house Clearing Corporation and the New York-based Depository Trust & Clearing Corporation (DTCC) will launch central counterparty clearing services for a range of over-the-counter credit derivatives in the third quarter.
After months of discussions between dealers, brokers and other market participants - not to mention talks over the past 20 years - the OTC derivatives market will finally get a central clearing house.
The demise of Bear Stearns earlier this year raised
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