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BRIEF-CME Group to exit OTC credit clearing business, return $650m in capital to clearing members
September 14, 2017 / 9:12 PM / 12 days ago

BRIEF-CME Group to exit OTC credit clearing business, return $650m in capital to clearing members

Sept 14 (Reuters) - Cme Group Inc

* CME Group to exit OTC credit clearing business, return $650m in capital to clearing members

* CME Group Inc - Expects ‍launching OTC FX options clearing by end of 2017​

* CME Group Inc - ‍CME group will work with CDS open interest holders and regulators to ensure an efficient and “seamless transition” for credit market​

* CME Group Inc - ‍Pending regulatory approval, company will provide fee waivers on cds clearing, as well as facilitate bulk transfer of open positions​

* CME Group Inc - ‍Following transition, CME will dissolve CME clearing’s CDS guarantee fund, which will return $650 million to CDS clearing members​

* CME Group Inc - Will focus over--counter clearing services on interest rate swaps,foreign exchange

* CME Group Inc sees ‍delivering cleared OTC IRS in Chinese Yuan, Chilean Peso and Columbian Peso by early 2018​

* CME Group Inc - ‍Will exit company’s credit default swap (CDS) clearing business by mid-2018​ Source text for Eikon: Further company coverage:

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