• Updated Deliverable Swap Future Launch Date

      • To
      • Clearing Member Firms; Back Office Managers; Service Providers
      • From
      • CME Clearing
      • #
      • 12-472
      • Notice Date
      • 05 November 2012
      • Effective Date
      • 03 December 2012
    • Launch Date Delayed to Monday, December 3, 2012
      As a result of the storm on the U.S. East Coast and its significant impact on our customers, we are delaying the launch of new Deliverable Interest Rate Swap Futures to Monday, December 3, 2012. This move is designed to give our market participants additional time to prepare for the launch.

      About Deliverable Swap Futures
      Deliverable Swap futures are a cost-effective way to access interest rate swap exposure with the margin efficiencies and transparency of futures:
      ·         Margin savings from futures-style margining, risk offsets with Eurodollar and Treasury futures and options, automatic netting of positions and more
      ·         Coming in early 2013 - Portfolio margining with cleared OTC interest rate swaps
      ·         Ability to roll futures positions or take delivery of a CME cleared interest rate swap
      ·         Flexible execution via CME Globex, block trades, EFRPs and open outcry on the trading floor
      ·         Enables participants to trade in an OTC manner – ability to block calendar spreads with: 
      o    Lower block thresholds
      o    Longer reporting times
      o    No block surcharges

                      View block list contacts (page 17 of product overview)

      Where to Learn More
      ·         Listen to the recorded Deliverable Swap Futures webcast
      ·         Read the product overview
      ·         Get the latest product updates
      For questions or further information please contact CME Clearing Services (CCS) at 312-207-2525 or ccs@cmegroup.com.

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