SEC Grants NYSE Euronext’s Liffe Derivatives Exchange And LCH.Clearnet’s Joint Application For Exemptive Relief To Provide Centralized CDS Clearing

The Securities and Exchange Commission (SEC) has granted exemptive relief to NYSE Euronext’s derivatives group, Liffe, and LCH.Clearnet Ltd., so that qualified U.S. market participants may have access to the joint NYSE Euronext-LCH.Clearnet centralized CDS clearing solution through Bclear, which was launched in Europe on Monday, Dec. 22.

Duncan Niederauer, CEO of NYSE Euronext (NYX) said, "We are grateful to the SEC for their expeditious review and approval of the Bclear CDS clearing solution. This approval is an essential step in providing qualified US clients access to our in-production, central counterparty clearing solution to meaningfully improve efficiency and reduce systemic risk in the global credit default swap marketplace."