CME Group Inc. (CME)’s European clearinghouse and SIX Group’s central-securities depository have agreed to offer an integrated collateral-management service to insurance companies operating in Switzerland.
Once the system gains regulatory approval, financial institutions will be able to put the collateral needed to back trades directly into CME Clearing Europe Ltd.’s account at the Swiss company’s settlement arm. The pair will gradually extend the service to other countries and types of investors, Robert Almanas, managing director of Zurich-based SIX Securities Services said in an interview on May 9.
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