Cleared swaps
Access the most capital-efficient solution for Interest Rate swaps cleared across 24 currencies.
Clearing the way forward
Capture unmatched capital efficiencies across futures, options, and swaps. Uncover opportunities in our market-leading emerging market currencies, gain exposure to a liquid cleared SOFR market, and access margin services that have saved market participants an average of $5.4 billion in daily margin costs.
Explore our products
Quicklinks
What's new
Check out the latest from cleared swaps.
Cleared Swaps Products
Explore our cleared swaps
With a best-in-class global clearing solution across Interest Rates and FX, CME Group is the only clearing house to offer clearing for Interest Rate swaps, swaptions, and Interest Rate futures within a single netting pool.
PRODUCTS
Latin American swaps
Capitalize on a deeply liquid market using clearing for Latin American swaps at CME Group, where more than 50 Latin American-based clients have cleared to date. Benefit from a leading collateral acceptance policy that includes MBONOS and Cetes.
Gain unparalleled capital efficiencies via margin offsets of Interest Rate swaps against Eurodollar and Treasury futures, with savings up to 90%.
AVERAGE DAILY MARGIN SAVINGS IN INTEREST RATE SWAPS AND FUTURES PORTFOLIOS IN 2020
$5.4 billion
Average Savings
51%
MAX SAVINGS
97%
YOY DAILY MARGIN SAVINGS GROWTH
20%
CUSTOMER ACCOUNTS
883
Access clearing services for SOFR-based Interest Rate swaps for both the outright OIS and Basis Swaps and experience seamless trades between SOFR and the existing benchmarks.
NOTIONAL VALUE TRANSITIONED IN SOFR DISCOUNTING
$7.2 trillion
Notional value of cleared SOFR Swaps to date
$343 billion
Participants have cleared SOFR Swaps
320
Enhance your capital efficiencies with our market-leading clearing solution, which offers regular compression cycles for Brazilian, Colombian and Mexican swaps.
Latin American-based clients clearing at CME to date
50+
Average daily volume in 2020 LatAm IRS
$28 billion
Chilean Camara and Colombian IBR OIS cleared
$1.9 trillion
Stay ahead of global regulations with a cash-settled FX clearing solution that provides superior cost and capital efficiencies compared to physically-delivered products and cross-margining against all OTC FX products.
Cash-Settled Forwards
26
Non-Deliverable Forwards
11
Cash-Settled Options
7
Resources
View fees, volume, mandated products, related methodologies and more.
Tool
CME CORE
Use our interactive margin calculator to evaluate your initial margin requirements. Run indicative margin requirements through manual entry or file upload on all CME Group products, both listed and OTC.
Use cases
Eurodollar options
By margining Eurodollar options along with Interest Rate futures and cleared swaps, CME Group clients can save up to 83% in initial margin.
"Morgan Stanley is excited to support our clients by expanding our portfolio margin offering to include Eurodollar options with Interest Rate futures and cleared swaps. With clients very focused on margin costs, this is an important enhancement for the marketplace.”
Jason Swankoski, Co-head of Derivatives Clearing Americas
CME Margin Services
Facilitating capital efficiencies for a capital-constrained world
Learn how cleared swaps can help you save on overnight funding costs and provide indicative margin savings.
Margining tools
Run indicative margins across your portfolio—including CME Group futures, options, and OTC.
Getting started
Take advantage of our streamlined onboarding and the operational efficiences of OTC Interest Rates and FX swaps through CME Clearing.
Eligible collateral
Enjoy the flexibility of posting collateral with CME Clearing, where US dollars, asset-backed securities and agency bonds are among the accepted ranges.
Stay in the Know
Get news and updates about cleared swaps on LinkedIn.
Contact the cleared swaps team
Connect with a member of our expert cleared swaps team for more information about our products.
