To migrate OTC CDS trades to standardized CME Group contracts, both counterparties must have CME Clearing membership, or sponsorship of a clearing member. With clearing requirements met, participants use the migration web interfaces to upload files, perform migration analysis, and receive migration results.
CME Group is the world's leading and most diverse derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.