OTC interest rate swap clearing from BME

BME Clearing in Spain has launched a new segment – BME Clearing Swaps – for clearing OTC interest rate swaps.

It says this is in response to the new regulation regarding the “clearing obligation”, which will make it compulsory for financial firms, insurance companies and other non-financial institutions to clear through a CCP all the Interest Rate Swaps with certain features. BME Clearing will cover all the euro-denominated contracts affected by the new regulation, it adds.