Preparing a Clearing Service Description

We helped a major APAC exchange lay the foundations of their clearing service.

Our client

A major APAC derivatives exchange wanting to build consensus around their proposed OTC IRS Clearing Service among prospective members.

Our challenge

We were commissioned to define and articulate the key principals of the client’s proposed IRS clearing service. Specifically, we were to create a complete service description that our client could use as a consensus-building tool.

Our approach

We mobilised an expert team to structure a document that ensured the client presented a robust and impressive IRS clearing service description to its internal stakeholders and external, prospective users.

We prepared detailed content on

  • operating times
  • trade submission process
  • position keeping
  • reporting
  • margining
  • default management
  • settlement and cover calling
  • fees

Our enduring effect

Our blend of market-leading clearing and regulatory and project management expertise ensured we had the immediate credibility to establish consensus among internal and external stakeholders. The service description we produced successfully laid the foundations of the prospective clearing service and our client subsequently engaged us to write the business requirements.