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January 4, 2016

CCP Notionals Scoresheet | As of Sept 2015

Since May Comder in Chile went live and has cleared $44bn of FX NDFs, giving South American businesses a new reduced risk way of transacting business.

Since May Comder in Chile went live and has cleared $44bn of FX NDFs, giving South American businesses a new reduced risk way of transacting business. Many of the OTC CCPs have seen a reduction in notional, Swapclear down $13trn, CME down $2.5trn ICE Clear Credit down $15bn leading to an overall drop of $15.5trn across all markets. The reduction is mainly due to compression activity, where services like TriReduce eliminate trades from cleared portfolios to achieve capital and operational cost savings. This makes for poor headlines as with cleared OTC products, less notional overall is a good thing. We don’t have any public measure of the Initial Margin posted which would be far more interesting.

The chart below was produced in September for Rocket 5 Magazine, for the latest data visit ClarusFT.com

 


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