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First Fully- Electronic Credit Default Swap Trades Executed and Cleared in U.S.

NEW YORK Feb. 10, 2011

The U.S. dollar-denominated swap transactions were executed on the Tradeweb institutional multi-dealer-to-client platform between BlueMountain Capital Management, a U.S.-based hedge fund, and Deutsche Bank. The trades were then cleared by the two major clearing houses in the U.S., CME Clearing and ICE Trust, with Deutsche Bank acting as respective clearing members. These trades are the first fully-electronic CDS transactions which could be considered swap execution facility (SEF)-ready under the regulatory framework set forth under the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Scott Beardsley

Colin Fan

Lee Olesky

Tradeweb is a leading multi-dealer-to-client trading platform for Credit products, including European Credit, Covered Bonds/Pfandbriefe, Supranationals, Credit Default Swap Indices and U.S. Corporates. Institutional investors rely on Tradeweb’s automation of these fast-moving markets for real-time pricing, and the ability to put leading dealers in competition with each other. Clients may then identify the best price or rate, and execute their trade within seconds.

About Tradeweb

Hilliard Farber


Clayton McGratty, Tradeweb +1 (646)-430-6054

[email protected]


Frederick Duff Gordon, Moorgate Group +44 (0)20 7377 4996

[email protected]

SOURCE Tradeweb

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