August 26, 2024 (NO COMMENTS)

CME floats “hybrid” model, Ice commits to agent clearing, while LCH is yet to reveal its hand

 

CME Group and Ice are pitching subtly different access models for their proposed US Treasury clearing houses. CME has in recent weeks briefed key stakeholders – including banks, broker-dealers and hedge funds – on preliminary plans for its proposed central counterparty (CCP) for US Treasury trades. A clearing executive at a large US bank describes CME’s proposal as a “hybrid” approach that will allow banks and broker-dealers to offer US Treasury clearing as a standalone service or bundle it with