CDS Clearing Platforms Make Some Strides

For months there has been extensive preparation, but yet no derivatives clearinghouse has begun clearing credit default swaps. And while there is widespread agreement that clearing is a way forward for this $27 trillion market, numerous obstacles continue to delay a robust launch. Lawmakers and regulators are vying for turf in both the U.S and Europe; the instruments to be cleared must be restructured and standardized; and some of the more complex instruments may never be suitable for clearing.