Regulators are pushing clearing of credit default swaps and other derivatives, but market participants said despite steps in that direction, most client trades are not being cleared. Dealers committed to offer dealer clients access to CDS clearing by December, and CME Group and Ice Trust met that deadline. Making it an operation success, however, remains difficult. "What was done in December for [CDS] was manual and not something that could be operationally sustained on a day-to-day basis," one source said.
Published in Brief: