Knight Capital Enters CDS Clearing Counterparty Race

Knight Capital Group is the latest contender in the credit default swap (CDS) clearing counterparty race, joining players such as CME Group and Eurex. The brokerage and asset management firm says its NetDelta electronic settlement platform has been in development for over a year.

The platform is available to both the buy side and the sell side and offers trade capture, affirmation, confirmation, settlement, clearing and real-time profit and loss reporting, say the firm.

Lucio Biase, managing director at NetDelta, says: “NetDelta was designed to address unnecessary counterparty risk, balance sheet inefficiencies, settlement lags, valuation issues and a lack of liquidity.”