The credit market meltdown stoked efforts to form central clearing facilities and trading platforms for credit default swaps (CDS). CME Group, the Intercontinental Exchange (ICE), NYSE Euronext and Eurex all have proposals in the works. On October 7, CME Group and Citadel announced plans to launch a trading platform fully integrated with a central counterparty clearing facility for CDSs. For its CDS clearing solution, ICE joined forces with the Clearing Corp, Markit Group Ltd and Risk Metrics Group. In December, NYSE Euronext plans to launch CDS contracts based on the Markit iTraxx Europe indexes on Bclear. Eurex expects to roll out its clearing solution in early 2009. Eurex now offers a ready-to-use clearing solution for iTraxx index contracts and single-name CDS products.