CDS clearinghouse launch imminent?

We've noted recently that some people thought a CDS clearinghouse could be launched as early as this month. The Fed, the SEC and the CFTC certainly want to make this happen. They just signed an agreement to facilitate an easier launch path. This issue, to me, is whether we will see more than one before the end of the year. And to what extent will any clearinghouse actually draw sufficient volume. As we've noted before, there are two competing groups that have drawn the most attention: The ICE/Clearing Corp. and CME Group/Citadel. See here for an quick rundown. I still think that the key to success ultimately will be the dealer community. We'll see how they respond. Ultimately, you have to wonder if full migration to an exchange is likely.  

For more:
- here's an article from Financial News Online

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