SDR battle between CME and DTCC heralds huge cost savings
Firms reporting more than 50,000 open swap positions could save $1 million a year at CME
A new initiative from CME Group to challenge the Depository Trust Clearing Corporation's (DTCC's) virtual monopoly in global swap reporting could deliver massive cost savings for high-volume users.
A bank maintaining at least 50,000 reported open positions in interest rate swaps each month would save more than $1 million a year under CME's fee schedule for trade reporting, which includes an annual cap of $250,000 per asset class, analysis conducted by Risk.net reveals.
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