ASX Group clears approval hurdle for derivatives-clearing service

06/14/2013 | Trade News (U.K.), The

Australian Securities Exchange owner ASX Group has received approval from a majority of its futures-clearing participants to implement an over-the-counter derivatives-clearing service. The service will centralize clearing of Australian-dollar-denominated interest-rate swaps and provide client protections in cases of default. The service is scheduled to be operational next month, pending regulatory approval.

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Trade News (U.K.), The

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