The CME Depository Trust Co., a Chicago Mercantile Exchange unit, signed on 11 institutions as charter members of the swaps collateral depository. The CME Depository Trust will offer swaps dealers the opportunity to record and match trades, net cash flows and revalue positions, among other things. CME spokesman Dennis McSweeney said the depository is expected to open in February or March.
The charter institutions are ABN AMRO Bank, Bankers Trust, Citibank, First National Bank of Chicago, Industrial Bank of Japan, Merrill Lynch Capital Services, Morgan Guaranty Trust Co. of New York, NatWest Markets, Banque Paribas, Societe Generale and the Union Bank of Switzerland.
