Platforms and Products

Born of market need
Dedicated to growth and continuous improvement

CME Swaps on Swapstream

Fact Card with Contract Specifications (PDF)
Getting Connected to Swapstream (PDF)
Customer FAQ (PDF)
Product Overview (PDF)
Swaps e-Trading – Adapt or Die by Ronan O’Neill of © Total Derivatives Limited(PDF)
CME Swaps on Swapstream: Mitigating the Implied Costs and Risks of Vanilla Swaps—Whitepaper by Investance

In Q1 2008, Swapstream will introduce CME Swaps on Swapstream, the first interest rate swap to offer the OTC marketplace the full benefits and financial safeguards of central counterparty clearing. Traded on the Swapstream sPro™ platform and centrally cleared through CME using its OTC clearing solution, CME Clearing360™, CME Swaps on Swapstream combines unparalleled direct, anonymous access to high-volume customer groups with regulatory protection, risk management and cost efficiencies previously only available to exchange-traded products.

CME Swaps on Swapstream will include forward dated interest rate swaps denominated in U.S. dollars vs 3M Libor, with maturities from three months to 30 years, and Euros vs 6M Euribor, with maturities from six months to 30 years, as well as short-term OIS swaps ending on monthly International Monetary Market (IMM) start dates. Their fixed coupons will be reset at the end of every day and positions will be marked to market daily.

With minimal entry costs, professional market participants can gain access to cost-effective interest rate swap trading in established, liquid markets, with the benefits of low-overhead straight-through processing.

Benefits of CME Swaps on Swapstream include:

• No ISDA documentation required
• No swap confirmations
• No bilateral collateral
• Positions are automatically netted
• Anonymous central counterparty clearing
• Frees up valuable counterparty credit lines
• Daily mark to market minimizes financial risks
• Secured by CME Financial Safeguards system
• Streamlined processing and allocations

To learn more about sPro, click here or contact us on info@swapstream.com.