Goldman Sachs launches Derivatives Clearing Services business

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Operational RiskSecurities Financing
27 Jul, 2010

Goldman Sachs announced today the launch of its Derivatives Clearing Services (DCS) business. DCS provides clients with a comprehensive global OTC clearing service for interest rates, credit, foreign exchange, equities and commodities.

Goldman Sachs DCS is an agency business designed to streamline the client derivatives clearing experience across products, asset classes and regions. DCS builds upon the firm’s globally recognized prime brokerage and futures clearing platforms to maximize efficiency and provide an integrated suite of tools and reporting for clients.

“In partnership with our clients, regulators and multiple clearing venues, we are committed to improving market structure for derivatives,” said Michael Dawley, Managing Director and Co-Head of Futures and DCS, Goldman Sachs. “The DCS offering provides our clients with a host of value-added services and multi-product expertise to successfully navigate this dynamically changing environment.”

Goldman Sachs recognizes that clients will be faced with new reporting, connectivity, and regulatory requirements. The firm is committed to investing in innovative solutions to help clients address these changes.

“The move to central clearing for OTC derivatives is a significant turning point in the marketplace," said Jack McCabe, Managing Director and Co-Head of Futures and DCS at Goldman Sachs. “Our strong trading franchise, coupled with our market leading futures and prime brokerage services, enables us to provide our clients with the foundation they need to adapt to these important industry developments."

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