PRTODAY / NewswireToday Free press release distribution service network

Written by / Agency / Source: Newedge Group | Société Générale

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

Newedge Brokers and Clears First Interest Rate Swap Transactions with IDCG's Clearinghouse - Newedge USA, LLC, announced that it has successfully brokered and centrally cleared its first dealer-to-client interest rate swap transactions at the International Derivatives Clearinghouse, LLC (IDCH)
Newedge Brokers and Clears First Interest Rate Swap Transactions with IDCG's Clearinghouse

 

NewswireToday - /newswire/ - Chicago, IL, United States, 2010/09/15 - Newedge USA, LLC, announced that it has successfully brokered and centrally cleared its first dealer-to-client interest rate swap transactions at the International Derivatives Clearinghouse, LLC (IDCH).

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Financial/Legal/Venture Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Newedge USA, LLC, a global leader in multi-asset clearing and brokerage, announced today that it has successfully brokered and centrally cleared its first dealer-to-client interest rate swap transactions at the International Derivatives Clearinghouse LLC (IDCH), a derivatives clearing organization owned by the International Derivatives Clearing Group, LLC (IDCG) and regulated by the U.S. Commodity Futures Trading Commission.

The initial interest rate swap transactions totaled over US$100 million in notional value and involved asset manager and dealer clients - demonstrating the effectiveness of central counterparty clearing of OTC interest rate derivatives and the constructive role a clearing broker such as Newedge, with its diversified client base and independent business model can play in the process.

Newedge joined IDCH's client clearing platform as a member in March 2010 and has successfully delivered all operational requirements to offer interest rate swap clearing services to end-user clients and liquidity providers.

Newedge, already a clearing leader for listed derivatives, is in a unique position to add value for participants in the interest rate swap market, the largest of the OTC derivative markets and a critical risk management tool for financial asset and liability managers*. Counterparties executing OTC interest rate swap transactions can reduce their risk by novating their positions to IDCH, with Newedge as their clearing firm. Counterparties will benefit from the clearinghouse performance guarantee and the proven segregated funds protections of the U.S. futures market.
"Our membership with IDCG is an important extension to the OTC clearing platform we offer our clients," said Nicolas Breteau, Newedge's CEO. "Newedge has devoted considerable resources in developing client OTC clearing solutions that add value and are open to all market participants. Our buy-side clients and liquidity providers are very interested in what we can provide across a range of OTC products, with interest rate swaps via IDCH now part of that offer."

Newedge (newedgegroup.com) is already an established participant in cleared OTC commodity swaps through CME ClearPort, ICE Clear Europe and SGX AsiaClear. The firm also expects to evaluate and participate as a broker in additional platforms that centrally execute and clear OTC swaps transactions.

"Given the current regulatory activities, being able to provide our clients with this service is crucial," said Marcus Katz, Senior Vice President of Newedge and lead on the IDCG project. "We also believe there is potential for considerable cost savings, materially lower risk, and significantly greater transparency for market participants employing central clearing through Newedge and IDCG."

* According the Bank of International Settlements, globally, interest rate swaps notional amount outstanding was over $400 trillion as of December 2009.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Financial/Legal/Venture Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: Newedge Group | Société Générale

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick Newswire Today Visibility Checker

 

Distribution / Indexing: [+] / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Financial/Legal/Venture articles,
CATCH Visitors via Your Competitors Announcements!


Newedge Brokers and Clears First Interest Rate Swap Transactions with IDCG's Clearinghouse

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
 
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

|
Publisher Contact: NewedgeGroup.com 
+33 155 07 2290
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Newedge Group | Société Générale securities in any jurisdiction including any other companies listed or named in this release.

Financial/Legal/Venture via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From Newedge Group | Société Générale / Company Profile


Read Financial/Legal/Venture Most Recent Related Newswires:

Societe Generale Group has Agreed to Sell the Entire Stake of Boursorama in Onvista AG to Comdirect Bank AG
Infinera to Participate in Upcoming Investor Conference
Propel Financial Services Partners with Clear Payment Solutions
Digital Payments Power Growth in Booming Asia-Pacific Financial Technology Landscape Notes Frost & Sullivan
Digital Readiness Key to Growth Opportunities in the Financial Services Market
Prairie Capital Advisors Announces The Sale of Cornerstone Treatment Facilities Network to An ESOP
Koch Agrees to Invest Over $2 Billion in Infor
FTI Consulting Recognized as a Top Service Provider in the Legal Industry
GE Completes Spin Off and Demerger of Bank BPH Core Bank to Alior Bank
ALM Expands Senior Leadership Team, Organization Focused on Customers and Transformation
Lazard Acquires Remaining 50% Stake in MBA Lazard - Fully Integrating its Latin American Operations
Western Union Business Solutions Announce Mark Davis As Head of Australia and New Zealand
Tabarak Investment Capital and Elite Capital & Co. Limited in Discussion to Finance Projects
Consulting Magazine Unveils the Profession’s Fastest Growing Firms At Inaugural Gala
Hills Invest Signs An Agreement with The Afore Profuturo in Mexico

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  BizJobs.com

Visit  La Bella Bakery Artisan Bakery Arizona





 
  ©2016 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)