Futures exchange brings CCP clearing to Aussie debt

SFE Clearing, the clearing and settlements arm of Sydney Futures Exchange (SFE), has announced the launch of its new Bond and Repo Clear service (BRC), with over $24 billion in trades settled in the first two weeks of trading with a pilot group. Although both the US and UK have similar systems, BRC is the first implementation of central counterparty clearing for the over-the-counter debt market in Australia and the Asia Pacific region, and only the fourth in the world. Traditionally t…