Tuesday October 8 2013

News Source: Global Exchanges

Focus: Other

Type: General




Clearstream and the Dubai Commodities Clearing Corporation (DCCC), the central counterparty (CCP) of the Dubai Gold & Commodities Exchange (DGCX), have agreed to cooperate on collateral management for CCP margining. The Middle Eastern CCP will join Clearstream’s central counterparty network by connecting to the company’s integrated collateral management environment, the Global Liquidity Hub.

By the end of the first quarter of 2014, DGCX customers will be able to leverage the collateral pools of Clearstream and its global strategic partners to meet margin requirements at DCCC through the Global Liquidity Hub.

DCCC now joins the long list of central counterparties that are already connected to Clearstream’s liquidity management solution benefitting from Clearstream’s already announced partner CSDs and agent bank partners such as ASX (Australia), CDS (Canada), Cetip (Brasil), Iberclear (Spain), SGX (Singapore), Strate (South Africa), BNP Paribas, Citibank and Standard Chartered. In total, the Global Liquidity Hub includes over 550 counterparties to date.

Click on the above link for more details.