CME files application for US Treasury and repo clearing
New entrant believes direct user access model will avoid accounting problem that hampers rival FICC
US financial market infrastructure CME has formally filed an application with the Securities and Exchange Commission to clear US Treasury cash and repo transactions ahead of the SEC’s mandate that is due to kick in at the end of 2025.
“We have submitted to [the] SEC all of the documents required for a draft application, and we will continue to engage on any questions they have,” says Suzanne Sprague, global head of clearing and post-trade services at CME. She anticipates that a draft rule book
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