Credit Products

 
 
CDS Clearing Solution

Cleared OTC CDS

CME Group has created a real-time, open access clearing solution for OTC Credit Default Swaps, in close collaboration with premier swap dealers, clearing firms, and buy-side participants.

Key Benefits

  • Open access clearing solution for dealer-to-customer and interdealer Credit Default Swaps trades.
  • Integration of our straight-through-processing clearing model into the existing OTC market
  • Immediate cleared trade confirmation and settlement, leaving no window of credit exposure between bi-lateral counterparties
  • Ability to backload legacy positions into cleared trades

 

  • Leverage existing relationships and connectivity with CME Clearing members
  • Time-tested regulatory and portability framework protects both customer positions and margins in the event of clearing member default

View OTC CDS
Market Data

Product Offering

Resources

Cleared OTC CDS Product Slate

Product slate comprises the highest volume Markit CDX indices and their single-name constituents. They are designed to mirror bilateral OTC contracts with standardized fixed coupons as defined by ISDA, and adhere to ISDA DC resolutions.

Indices

CDX IG

  • Series 8: 7 and 10 year tenors
  • Series 9-11: 7 and 10 year tenors
  • Series 12-15: 5, 7 and 10 year tenors
  • Series 16-23: 3, 5, 7 and 10 year tenors

CDX HY

  • Series 12-23: 5 year tenor

Additional Expansions Coming Soon*

European iTraxx Main

  • Series 17 to OTR: 3, 5, 7 & 10 year tenors

European iTraxx XO

  • Series 17 to OTR: 5 Tenor

NA Single Names

  • 138 NA IG Constituents

European Single Names

* Pending regulatory approval

 

Cleared CDS Product Specifications

 

Overview

Onboarding

Tools

Swap Execution Facilities (SEF)

CDS Margining

 

Credit Default Swaps Information
 
 

Prices are % of par. Open Interest is the sum of the net notional outstanding per contract.
Volume is the sum of the notional for trades where both the buyer and seller agree to clearing the transaction. The figure is one sided.

 
 

Onboard Today
Subscribe to Cleared OTC IRS, CDS, and FX Updates

 

Futures & Options Trading

As the world's leading and most diverse derivatives marketplace, CME Group 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 commodities, metals, weather and real estate. CME Group brings buyers and sellers together through the CME Globex electronic trading platform and trading facilities in New York and Chicago. CME Group also operates CME Clearing, one of the largest central counterparty clearing services in the world, which provides clearing and settlement services for exchange-traded contracts, as well as for over-the-counter derivatives transactions through CME ClearPort.

Idea Exchange

Idea Exchange is your direct link to the product managers, marketers, and the development teams who create cmegroup.com and will allow you to review functionality, participate in focus and provide feedback on upcoming Web initiatives

Idea Exchange - Join Our User Focus Program

Contact Us

CME Group/Chicago HQ:
Local: +1 312 930 1000
Toll Free: +1 866 716 7274

Global Customer Contacts

More CME Group Direct Lines
Phone list by department

Global Partnerships

Global

Global Offices Contact Information

 
Calgary Houston Chicago New York Washington São Paulo Belfast London Singapore Hong Kong Seoul Tokyo Beijing

© 2014 CME Group Inc. All rights reserved.

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.