CME Clearing Europe approved as clearing organisation in US

CFTC approves CME Clearing Europe as derivatives clearing organisation in US.

CME Clearing Europe has become the latest European clearing house to win approval from the US Commodity Futures Trading Commission (CFTC).

The approval means CME Clearing Europe can clear interest rate swaps for customers of US banks.

It has become the latest European CCP to win approval, joining London-based LCH and Frankfurt-based Eurex as the only European CCPs to clear US interest rate swaps.

Tina Hasenpusch, CEO of CME Clearing Europe, explained the newly approved status enables it “to clear a truly global marketplace” and “facilitate market access to more clients.”

CME Clearing Europe lists interest rate swaps and more than 200 over-the-counter commodities contracts for clearing its London-based derivatives exchange, CME Europe.