CME Group's European clearing house and the post-trade arm of Swiss exchange operator SIX Group have teamed up to create a platform to manage collateral used to back derivatives trades. Collateral management has become a top priority for banks and financial institutions due to new rules requiring that more derivatives trades be conducted through electronic platforms, pushed through clearing houses and backed by collateral, often cash or top-quality government bonds.SIX Securities Services (SIS) said on Monday the new service allowed market participants to place collateral directly in CME Clearing Europe's account at its central securities depository, giving greater clarity on how collateral is being used and what is available to meet margin requirements.It also provides automated segregation, or ring-fencing, of one client's assets from another.Once regulators give the system the green light, it will first be available for Swiss-based insurance companies. CME and SIX plan to later roll out the service to other markets and buy-side institutions.
Central Securities Corporation is a non-diversified, closed-end management investment company. Shares of CET remained unchanged at $22.12. In the past year, the shares have traded as low as $20.25 and as high as $24.72. On average, 23082 shares of CET exchange hands on a given day and today's volume is recorded at 3986.
CME Group Inc. (CME Group) offer a range of global products across all asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. Shares of CME traded higher by 0.61% or $0.42/share to $69.59. In the past year, the shares have traded as low as $62.18 and as high as $84.71. On average, 1844970 shares of CME exchange hands on a given day and today's volume is recorded at 1407160.
Financial Institutions, Inc. (FII) is a financial holding company. Shares of FISI traded higher by 2.36% or $0.54/share to $23.38. In the past year, the shares have traded as low as $17.92 and as high as $26.59. On average, 45389 shares of FISI exchange hands on a given day and today's volume is recorded at 25229.
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