CME Group is poised to start clearing interest rate swaps denominated in the Swiss franc and Canadian dollar. The futures exchange operator first started clearing interest rate swaps a year ago with dollar-denominated derivatives, followed by euro-denominated rates. "IRS clearing was a slow start for the first 11 months we were in business," said Derek Sammann, managing director for interest rate and foreign exchange products at CME. "But now, we're seeing real traction in cleared rates, especially from buy-side demand."
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