• OTC IRS and FX – Emerging Markets Discounting and Price Alignment Transition

      • To
      • Clearing Member Firms; Back Office Managers
      • From
      • CME Clearing
      • #
      • 21-112
      • Notice Date
      • 26 March 2021
      • Effective Date
      • 26 March 2021

    • Please be advised that CME Clearing has successfully completed the Emerging Markets Interest Rate Swaps (“IRS”) and Over the Counter Foreign Exchange (“OTC FX”) Products Discounting Transition and Price Alignment processing in accordance with the process set out in Clearing Advisory 21-087. All USD-settled and MXN OTC IRS and OTC FX products have been transitioned to SOFR-based discounting and price alignment. All EUR-settled OTC FX products have been transitioned to €STR-based discounting and price alignment.

      Click here for the full text of the advisory

      21-112

CME Group is the world’s leading 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.

© 2026 CME Group Inc. All rights reserved.