From Reuters | CME Group Inc is working with Fannie Mae and Freddie Mac to design a clearing facility for interest-rate swaps, a $414 trillion global market. “I imagine that we, among others, will be competing to try to win business from them as we introduce our interest-rate swaps clearing solution,” said CME CEO Craig Donohue on Tuesday at the Reuters Global Exchanges and Trading Summit in New York
Get the full story: reuters.com
Filed under Chicago executives
CME Group working on interest-rate swap clearing
Posted March 30, 2010 at 6:53 p.m.
Real nice of ThomsonReuters and this not to explain what one is and why it needs to be cleared.
I guess that this and the story about fighting the short selling rule means that the government and ThomsonReuters wants to keep the rest of us in the dark about what is going on, until the next crash.