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S&P GSCI Crude Oil ER Swap 
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S&P-GSCI Crude Oil ER Index Swaps offer over-the-counter (OTC) market participants the full benefits of central clearing. This includes:

  • Virtual elimination of counterparty credit risk
  • Comprehensive credit management
  • Virtual elimination of the operational and legal risks that customers face in OTC trading
  • Mark-to-market margining

To participate in this market, all traders of forward contracts must have signed the Exchange User License Agreement (EULA).

About CME ClearPort
CME ClearPort is a set of flexible clearing services open to over the counter (OTC) market participants to substantially mitigate counterparty risk and provide capital efficiencies across asset classes.

About the Index
The S&P GSCI Crude Oil Index, a sub index of the S&P GSCI® provides investors with a reliable and publicly available benchmark for investment performance in the crude oil commodity markets. The index is designed to be tradable, readily accessible to market participants, and cost efficient to implement. The S&P GSCI is widely recognized as the leading measure of general commodity price movements and inflation in the world economy.