SINGAPORE, May 26, 2016 /PRNewswire/ -- CME Group, the
world's leading and most diverse derivatives marketplace, today
announced that Chicago Mercantile Exchange Inc. has been
formally granted the status of Recognised Clearing House (RCH) by
the Monetary Authority of Singapore (MAS) with effect from 18 May
2016.
With this Recognised Clearing House status, the clearing house
division of Chicago Mercantile Exchange Inc., CME
Clearing, is now able to sign up direct clearing members from
Singapore for clearing of both
exchange-traded futures and options, as well as
over-the-counter derivatives. In addition, with the
implementation of MAS' proposal to mandate clearing for interest
rate swaps later this year, including Singapore-dollar and US-dollar-denominated
swaps, Recognised Clearing House status will permit local market
participants to fulfill their clearing obligations in these
instruments with CME Clearing.
"We are delighted to be granted the status of Recognised
Clearing House by the MAS," said Sunil
Cutinho, Senior Managing Director, and President of CME
Clearing. "This complements the Automated Trading Services
(ATS) status granted to our clearing house by the SFC in
Hong Kong in August 2015, and we are pleased to be able to
provide our clients and members access to clearing services across
multiple asset classes and jurisdictions."
"This is an important milestone in our growth strategy in
Asia Pacific," said Christopher Fix, Managing Director, and Head of
Asia Pacific, CME Group.
"Singapore is a key international
financial centre, and we are excited to be able to play a crucial
role working in close partnership with market participants and
further support our member firms in meeting their clearing
obligations."
About CME Group
As the world's leading and most diverse derivatives marketplace,
CME Group (www.cmegroup.com) is where the world comes to manage
risk. CME Group exchanges offer the widest range of global
benchmark products across all major asset classes, including
futures and options based on interest rates, equity indexes,
foreign exchange, energy, agricultural products and metals. Around
the world, CME Group brings buyers and sellers together through its
CME Globex® electronic trading platform and its exchanges based in
Chicago, New York and London. CME Group also operates one of the
world's leading central counterparty clearing providers through CME
Clearing and CME Clearing Europe, which offer clearing and
settlement services across asset classes for exchange-traded and
over-the-counter derivatives. CME Group's products and services
ensure that businesses around the world can effectively manage risk
and achieve growth.
CME Group is a trademark of CME Group Inc. The Globe Logo, CME,
Globex and Chicago Mercantile Exchange are trademarks of Chicago
Mercantile Exchange Inc. CBOT, the Chicago Board of Trade, KCBOT, KCBT and
Kansas City Board of Trade are
trademarks of the Board of Trade of the City of Chicago, Inc. NYMEX, New York
Mercantile Exchange and ClearPort are registered trademarks of New
York Mercantile Exchange, Inc. COMEX is a trademark of Commodity
Exchange, Inc. All other trademarks are the property of their
respective owners. Further information about CME Group (NASDAQ:
CME) and its products can be found at www.cmegroup.com.
CME-G
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SOURCE CME Group