Mandatory Clearing Checker

Mandatory clearing of interest rate swaps is already underway in many of the G20 nations and is due to be introduced in the remaining jurisdictions in the next few years.

Keeping track of which jurisdictions have implemented clearing mandates and which are yet to do so can be taxing. The challenge can be heightened when market participants have to determine if a specific product is in scope, based upon the benchmark interest rate it references or the currency in which it is denominated.

Initially, only selected vanilla products and certain classes of market participants are mandated to clear, but waves of additional products will be added to the mandatory list going forward. Will the products your firm trades be among them?  

To help comply with the mandate, SwapClear’s Mandatory Clearing Checker provides a simple answer to the question of whether an instrument is obliged to clear. That includes in the US under the CFTC mandate, in the EU under EMIR. Simply enter the type of swap, the underlying currency and the benchmark rate the trade references and the tool will tell you whether the swap is mandated to clear in the jurisdiction in which you’re transacting.


CFTC Mandatory Clearing Checker

ESMA Mandatory Clearing Checker