North American clearinghouses will create services for swaps

04/6/2011 | AutomatedTrader.net

New York Portfolio Clearing signed an agreement with Canadian Derivatives Clearing to develop services for handling Canadian derivatives transactions. The move is part of an effort to meet the Group of 20 nations' commitment to strengthen market practices. "Today's announcement provides a valuable road map for building a clearing solution that best meets the needs of the Canadian [over-the-counter] derivatives market," Glenn Goucher, president of Canadian Derivatives Clearing.

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