This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

TrueEX Plans To Provide CME Group's Clearing Members And Customers With TrueEX's Portfolio Termination, Compaction, Re-balancing And Back-loading Services

NEW YORK, April 10, 2013 /PRNewswire/ -- trueEX, LLC, announced today that it plans to launch a service to provide termination, compaction, re-balancing and back-loading services to CME clearing clients.

Pending CFTC review, trueEX, the first CFTC-regulated Designated Contract Market (DCM) for interest-rate swaps, would provide CME clearing clients with access to trueEX's proprietary PTC (Portfolio Terminations and Compactions) platform.

"We are pleased to offer trueEX services to our clients as part of our ongoing efforts to provide the most efficient OTC clearing solution," said Kim Taylor, President, CME Clearing. "Our clients tell us that they need to actively manage their cleared portfolios by reducing line items and maintaining the most capital efficient state of their aggregate risk across cleared and bilateral swaps. This service is one way we can help them achieve that objective."

Sunil Hirani, CEO and founder of trueEX, added: "trueEX's PTC platform would be the first and only platform to provide clients the ability to directly and instantly facilitate automated terminations, compactions, re-balancing and back-loading of legacy bilateral trades into CME's clearinghouse, and also to help clients efficiently manage their portfolio of cleared swaps."   

PTC was designed with significant input from both buy-side and dealer participants to help the interest rate swap community cope with regulatory and compliance requirements of Dodd-Frank. trueEX's PTC platform would be the first automated platform  to allow the buy-side instant and direct access to perform key life-cycle processes on pre-existing swaps in the CME Clearinghouse: terminations, compactions, re-balancing and back-loading.

"The current process can take hours to execute, is manual, prone to operational risk and cumbersome. It can now be facilitated on the PTC platform in a manner of minutes," said Hirani. "PTC would save both buy-side and dealers significant time, facilitate margin and capital efficiencies, and reduce operational cost and risk in the pre-trade and post-trade process."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.03 -2.90%
FB $116.73 7.20%
GOOG $691.02 -2.10%
TSLA $247.54 -1.60%
YHOO $36.59 -0.97%


Chart of I:DJI
DOW 17,830.76 -210.79 -1.17%
S&P 500 2,075.81 -19.34 -0.92%
NASDAQ 4,805.2910 -57.85 -1.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs