NEW YORK, Dec. 23, 2008 -- The Securities and Exchange Commission (SEC) has granted exemptive relief to NYSE Euronext’s derivatives group, Liffe, and LCH.Clearnet Ltd., so that qualified U.S. market participants may have access to the joint NYSE Euronext-LCH.Clearnet centralized CDS clearing solution through Bclear, which was launched in Europe on Monday, Dec. 22.
SEC Grants NYSE Euronextís Liffe Derivatives Exchange and LCH.Clearnetís
Joint Application for Exemptive Relief to Provide Centralized CDS Clearing
Duncan Niederauer, CEO of NYSE Euronext (NYX) said, "We are grateful to the SEC for their expeditious review and approval of the Bclear CDS clearing solution. This approval is an essential step in providing qualified US clients access to our in-production, central counterparty clearing solution to meaningfully improve efficiency and reduce systemic risk in the global credit default swap marketplace."
About NYSE Euronext
NYSE Euronext (NYX) is the world’s leading, most liquid and diverse exchange group. It offers a broad and growing array of financial products and services in cash equities, futures, options, exchange-traded products, bonds, market data, and commercial technology solutions, all designed to meet the evolving needs of issuers, investors and financial institutions. Spanning multiple asset classes and six countries, NYSE Euronext’s exchanges include the New York Stock Exchange, Liffe, Euronext and NYSE Arca. With more than 6,500 listed issues, more than any other exchange group, trading on NYSE Euronext’s equity markets represents more than one-third of the world's cash equities volume. NYSE Euronext also manages the leading European derivatives exchange by value of trading. NYSE Euronext is part of the S&P 500 index and the only exchange operator in the S&P 100 index. For more information, please visit www.nyx.com.
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