BNY Mellon makes rate-swap clearing arrangements with CME

08/24/2011 |

Bank of New York Mellon's clearing division will use CME Group to clear over-the-counter interest-rate swaps. "While it appears that a large percentage of OTC derivatives transactions will become centrally cleared, we believe the near-term interest among the industry will be focused on interest-rate swaps. Our clearing membership with CME Group represents a significant step forward in providing reliable and efficient clearing pathways for our global client base," said Sanjay Kannambadi, CEO of BNY Mellon Clearing.

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