TERM DBV ENTERS NEW PHASE

Following the initiative agreed by the LMMA, Euroclear, LCH Clearnet and the Bank of England, Term DBV (TDBV) was finally launched to the CCP market on 7th September 2015. Although this was later than planned, the delay has allowed all parties to develop the robust systems and trading operations to ensure a long-term and successful future for this important new product.

Phase 2 is the phased migration to TDBV in the bilateral (non-CCP) DBV market. The Bank of England’s Money Market Liaison Committee continues to oversee the project via a sub committee again chaired by LMMA Deputy Chairman Ian Fox.

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