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Bloomberg offer CDS clearing interface
Source: Hedge Funds Review | 14 Jan 2010
Categories: Operations
Topics: Clearing, Settlement, Markit, OTC derivatives, Central counterparty (CCP), Chicago Mercantile Exchange (CME), Derivatives
Bloomberg has launched the first interface in the US credit derivatives market connecting buy- and sell-side companies to the two central clearing counterparties (CCPs).
Known as the VCON solution, it allows dealers and their clients to send executed trades to the two US-based providers of central clearing for over the counter (OTC) credit derivatives: the Chicago Mercantile Exchange (CME) and Intercontinental Exchange's ICE Trust.
The VCON infrastructure also links to MarkitServ for credit default swap and interest rate swap trades.
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