Amundi has become the first buy - side firm to join leading global clearing house LCH as a founding member of credit - default swaps ( CDS ) . Amundi , Europe 's largest asset manager , is now live on demand via its clearing house BNP Paribas . Buy - side firms hope more mandatory clearing for single - name CDS trades will replace the once - prevalent trade in the securities . Amundi 's move is seen as important because it gives firms such as BlackRock , BlueMountain Capital Management , Citadel , Eaton Vance and Pimco another venue to voluntarily clear single - name CDS , which they have all pledged to do .
Amundi has become the first buy-side company to join leading global clearing house LCH as a clearing member of credit-default swaps (CDS). Amundi, Europe's largest asset manager, is now live on CDSClear via its clearing broker BNP Paribas. Buy-side firms hope more mandatory clearing for single-name CDS trades will boost the once-thriving trade in the securities. Amundi's move is seen as important because it gives firms such as BlackRock, BlueMountain Capital Management, Citadel, Eaton Vance and Pimco another venue to voluntarily clear single-name CDS, which they have all pledged to do.