Clearing house has been working toward a Q3 launch for interest rate swaps
Spanish clearing house, BME Clear, has won regulatory
approval to launch interest rate over-the-counter (OTC)
derivatives and cash equities divisions, ahead of the
introduction of Emir's clearing mandate next year.
The authorisation from the CNMV - the Spanish competent
authority - came after the clearing house has spent recent
months ramping up preparations ahead of its launch later this
As reported by FOW in February, the Spanish clearing house has been eyeing a
third quarter launch for interest rate swaps (IRS), pending
the regulatory nod, in order to coincide with the expected
commencement of Europe's swap clearing rules.
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