Chicago Mercantile Exchange Inc. Seeks Accelerated Approval for Rule Change to Update FX Swap Bond Calculation Methodology

Summary

The Chicago Mercantile Exchange Inc. has filed a notice with the relevant authorities, requesting accelerated approval for a proposed rule change aimed at updating its methodology for calculating 'Cash Mark-to-Market' performance bonds for cleared OTC FX swaps. The proposed change will shift from the SPAN methodology to HVaR, a more advanced risk assessment approach.