Newedge aims to expand OTC clearing business to Asia

03/7/2013 | Risk.net (subscription required)

Newedge plans to take its clearing business for over-the-counter interest-rate swaps to Asia, senior executive Ramir Cimafranca says. "We will continue to expand our proven prime-clearing infrastructure and our agency-broker model to service major OTC players in the region," he said. In February, the company cleared an OTC interest-rate swaps trade on the Chicago Mercantile Exchange, becoming the first nontraditional swaps dealer to do so.

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