Derivatives marketplace CME Group and the Depository Trust and Clearing Corporation (DTCC) have announced plans to expand their long-standing cross-margining arrangement by December 2025. The aim of the expanded partnership is to provide end users with increased margin savings and capital efficiencies.
The enhanced arrangement targets eligible end users at CME Group and the Government Securities Division (GSD) of DTCC’s Fixed Income Clearing Corporation (FICC). These users will enjoy access to capital efficiencies that are available when trading US treasury securities and CME Group interest rate futures that have offsetting risk exposures.
DTCC states, “Aligning enhanced cross-margining for end-user customers with the regulatory timeline for expanded US treasury clearing requirements encourages greater utilisation of central clearing, therefore reducing systemic risk.”
Laura Klimpel, managing director and head of DTCC’s fixed income and financing solutions, reveals that the firm has plans to extend cross-margin benefits to more customer accounts and to other products.
The enhanced arrangement remains subject to regulatory approval, but end-users can already set up new accounts, complete programme legal documentation, and test end-to-end workflows in anticipation.
