BNP Paribas Securities Corp.has joined CME Group to clear credit default swaps, futures and over-the-counter (OTC) interest rate swaps.

BNP Paribas Securities is  BNP Paribas Corporate and Investment Banking's U.S. registered broker dealer.

As a CME clearing member for CDS, BNP Paribas Securities Corp. will be better positioned to fulfill regulatory mandates that require credit derivatives between financial institutions be cleared through a clearinghouse.

The clearing solution will also enable BNP Paribas' global clients to comply with the mandatory client clearing requirements of the Dodd-Frank Act.

"BNP Paribas Securities Corp. supports the current regulatory initiatives and joins CME Group for the clearing of CDS to address our client clearing needs," said Kip Testwuide, co-head of fixed income, Americas.   


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