Suzanne Sprague talks to JLN at FIA Expo 2023 about changes and challenges for clearing and post-trade services

Sarah Rudolph

Sarah Rudolph

Editor-in-Chief

At FIA Expo 2023, JLN’s Sarah Rudolph sat down with Suzanne Sprague, senior managing director, global head of clearing & post-trade services at CME Group, to talk about the panel Sprague was on called The Evolving Clearing Landscape. Sprague talked about CME moving to the cloud, and clearing houses moving to different margin models. She also discussed proposed regulations that could potentially impact clearing members. 

JLN asked Sprague what are the biggest challenges for clearing and post-trade services from an exchange perspective. She said the G20 commitment to central clearing was a core tenet coming out of the financial crisis, and the CME is paying close attention to the Basel proposal and the potential impact it could have on clearing members’ ability to continue providing central clearing. 

We asked her about the biggest changes in clearing in the past 5-10 years. She said she anticipated technology and the cloud continuing to be the biggest changes and bringing increased efficiencies, including capital efficiencies, which continue to be a large focus at the CME. There have also been changes in portfolio margining across asset classes, between futures and swaps, for example. Sprague said CME is excited to be enhancing its cross margining program with the Fixed Income Clearing Corp., for which the exchange recently received regulatory approval.   

We also asked about how exchanges are responding to regulations, and what clearing products the CME is currently working on. 

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