Seven sign up for CME’s over-the-counter NDF-clearing launch
The exchange is set to launch the service in the first quarter of 2018
Seven market participants have confirmed their intention to clear over-the-counter non-deliverable forwards (NDFs) through the CME from the first quarter of 2018.
The seven firms – BBVA, Citi, Itau Unibanco, NatWest Markets, Santander, Standard Chartered and XTX Markets – join the ranks of FX institutions already taking advantage of the capital efficiencies offered by clearing, as an increasing number of market participants are caught up by the uncleared margin rules.
Paul Houston, global head
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