Time To Lift The Veil - Forbes.com
In response to these concerns regarding the OTC nature of credit derivatives markets, the Federal Reserve has initiated a move to migrate the clearing of credit default swap contracts through a platform offered jointly by the Chicago Mercantile Exchange (nyse: CME - news - people ) and the hedge fund Citadel. The Depository Trust and Clearing Corporation (New York) and LCH.Clearnet Group (London) have announced a merger to create the world's largest clearing house, also providing services for OTC products such as interest-rate swaps and credit default swaps.
These developments augur well for the credit derivatives market and overall financial stability..."
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