Robeco says it's first European manager to centrally clear CDS

Robeco has today announced its claim to be the first European asset manager to execute a centrally cleared over-the-counter credit derivative trade. The firm says this test has been conducted in anticipation of the planned legislative and regulatory reforms of the OTC derivatives market.

Robeco cleared an index trade through ICE Trust, using Barclays as a primary clearing broker. Robeco’s preparations for central clearing started in September last year. It says the next step in this project will be to define a solution which can support high volumes and other derivatives such as swaps.