Baymarkets, a leading provider of multi-asset class over-the-counter (OTC) trading systems, today announced a certified integration module to the CME ClearPort services.
Cleared OTC transactions are taking an increasingly important role in today's markets and CME ClearPort is providing flexible clearing services in the OTC marketplace helping their clients to sub-stantially mitigate counterparty credit risk.
"We are very pleased to be able to provide our cus-tomers with a connection to the CME ClearPort services. Regulatory changes are driving the OTC market from bilateral dealing towards cleared solutions. By being able to provide our customers not only with the most advanced and flexible trading platform but also provide STP from order entry and trade execution to clearing gives our clients additional benefits using the EDGE trading system," said Peter Fredriksson (CEO) and Joackim Lantz (Sales Director).
"The brokers providing OTC execution of crude oil, natural gas and petroleum products in the energy market now are able to increase their focus further in creating business opportunities for their customers whilst the principals will benefit by significantly reduced counterparty risk compared to bilateral clearing," Joackim Lantz continued.