Three types of collateral are accepted by the CME Clearing division to back trades. The wide range of collateral includes U. Treasuries, select foreign sovereign debt, asset-backed securities and agency bonds. In October the clearing house announced that on January 2, it would institute changes to its collateral acceptance program which would result in clearing members being charged for the below asset types when posting collateral to meet client and house performance bond requirements:.
Fees will be calculated on daily balances and charged monthly. CME Group. CME press release via Futures Magazine. Eris Exchange. Most of these OTC contracts have no on-exchange counterpart; they are only available for clearing.
ClearPort is an open system. This means that trading firms can customize their front-end software to meet their specific trading requirements. The system lets commercial traders quote transactions in standard commercial units - such as barrels or British thermal units - while converting them to cleared contract equivalents.
It uses enterprise-wide credit limits across both traded and cleared-only transactions to allow for efficient risk management. It also supports negatively priced contracts allowing the trading of location, quality and product differentials. All market participants desiring to execute transactions on ClearPort must first establish an account with an exchange clearing member firm.
The facilitation desk then contacts other trader to confirm the deal. When the desk has confirmation from both parties, it processes the trade. The system lets market participants take advantage of NYMEX's clearinghouse and around-the-clock access to more than energy futures contracts including natural gas location differentials; electricity, crude oil spreads and outright transactions; refined product crack and location spreads and outright transactions; and coal. Almost all of the energy swaps that are processed through ClearPort are converted into futures contracts.
Designated Contract Market Regulation.
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