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With CME Clearing in mind, the exchange operator and a collateral solutions provider have developed the Prefunded Treasury Facility (PTF).
The CME Group, which operates derivatives exchanges, and GCSA Capital, a provider of collateral and risk transfer solutions, have been developing an additional form of collateral — a letter of credit issued by a bankruptcy-remote trust — acceptable for use via CME Clearing. The two companies have been readying the Prefunded Treasury Facility (PTF), a...
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