CME Clearing Europe

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CME Clearing Europe
Headquarters London

CME Clearing Europe was launched in May 2011. The London-based clearing house, a wholly-owned subsidiary of CME Group, clears more than 200 OTC products and runs on the same clearing, settlement and risk management systems used at CME Clearing.[1] The clearing house handles OTC contracts including: energy, agriculture, freight and precious metals with plans to include OTC financial derivatives. The move to launch CME Clearing Europe stemmed largely from the European Union's Market Infrastructure Regulation (EMIR) which is due to start in 2013 and force mandatory clearing of OTC trades.[2]

CME Clearing Europe is technically defined as a Recognised Clearing House (RCH) for OTC commodity and financial derivatives, and regulated by the Financial Services Authority (FSA). Under new EU regulatory guidelines, CME Clearing Europe will be supervised by the Bank of England, under new EMIR rules.

Products and Services[edit]

CME Clearing Europe clears more than 200 different OTC contracts in the agriculture, energy, freight, metals and financial derivatives. For a full list of OTC products cleared, click HERE.

Clearing Member Firms[edit]

Here are the clearing member firms listed as of February 2013:

ADM Investor ServicesInternational Limited BNP Paribas Commodity Futures Limited Citigroup Global Markets Limited Credit Suisse Securities (Europe) Limited Deutsche Bank AG - London Branch Goldman Sachs International HSBC Bank PLC INTL FCStone (Europe) Limited Jefferies Bache Limited Newedge UK Financial Limited Royal Bank of Canada Royal Bank of Scotland PLC State Street Bank GmbH UBS Limited[3]

Key People[edit]

Otto Nageli, Independent Director, Chairman Andrew Lamb, CEO Lee Betsill, Chief Operations Officer and Managing Direcor, CME Clearing Europe Bruce Armstrong, Independent Director, Audit Committee Chairman Hugh Simpson, Independent Director, Risk Committee Chairman William Knottenbelt, Non-Executive Director, CME Group Kim Taylor, Non-Executive Director, CME Group James Oliff, Non-Executive Director, CME Group