The NASDAQ OMX Group has announced the completion of its 80% equity investment in the International Derivatives Clearing Group (IDCG). IDCG will become an independently operated subsidiary of NASDAQ OMX. Additionally, the Commodity Futures Trading Commission (CFTC) has granted IDCG approval to clear OTC Interest Rate Swap (IRS) Futures Contracts and other Fixed Income derivatives contracts. With CFTC approval, IDCG plans to launch central counterparty clearing for IRS products.

CEO Bob Greifeld said, "NASDAQ OMX has been an early advocate for reform of the Over-the-Counter market where bilateral contracts have contributed to the current credit crisis. It is our belief that basic market mechanisms such as central counterparty clearing systems can reduce credit risk while increasing the efficient use of capital."

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