5 Derivatives Clearinghouses Pass CFTC Stress Test

Five derivatives-clearing organizations, or central clearing counterparties, have passed a stress test conducted by the Commodities and Futures Trading Commission. The test was the first of its kind by the CFTC and considered how the institutions would square up against historical events such as the 2008 financial crisis and the Brexit.

Stress test of derivatives clearinghouses

The CCPs who passed the stress test were:

• CME Group Inc.’s (Aa3 stable) CME Clearing (unrated);
• Intercontinental Exchange Inc.’s (A2 stable) ICE Clear Credit (unrated), ICE Clear Europe (unrated) and ICE Clear U.S. (unrated); and
• London Stock Exchange Group plc’s (Baa1 positive) LCH Clearnet Ltd. (unrated).

“The results are credit...