Goldman Sachs has launched Derivatives Clearing Services (DCS) business, which will provide clients with a comprehensive global OTC clearing service for interest rates, credit, foreign exchange, equities and commodities.
Goldman Sachs said its 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 prime brokerage and futures clearing platforms to maximize efficiency and provide an integrated suite of tools and reporting for clients.
Michael Dawley, managing director and co-head of futures and DCS at Goldman Sachs, said: “In partnership with our clients, regulators and multiple clearing venues, we are committed to improving market structure for derivatives. The DCS offering provides our clients with a host of value-added services and multi-product expertise to successfully navigate this dynamically changing environment.”
Jack McCabe, managing director and co-head of futures and DCS at Goldman Sachs, said: “The move to central clearing for OTC derivatives is a significant turning point in the marketplace. 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.”