EMIR mandatory clearing – CDS clearing obligation launched
This follows the recent publication of the RTS for interest rate swaps (IRS). The CDS RTS will enter into force on 9 May 2016 and the CDS clearing obligation itself will take effect according to the categorisation of counterparties in a similar fashion to IRS. The RTS covers CDS that are dominated in Euro covering some European corporates - iTraxx Europe Main and iTraxx Europe Crossover.