Eurex Clearing updates securities lending CCP
21 June 2013 Frankfurt
Image: Shutterstock
Eurex Clearing has extended the product and service scope of its central counterparty (CCP) solution for securities lending.
Equities from three additional European countries have been accepted and a solution for voluntary corporate actions has been in operation since early June.
Blue chip equities from Belgium, France and the Netherlands are now eligible for the CCP service that already covers equities from Germany and Switzerland and a range of international fixed income instruments and exchange-traded funds.
A full range of voluntary corporate actions is also now included in the service, based on bilateral agreements between lenders and borrowers.
Eurex Clearing’s new CCP service for securities lending went live on 22 November 2012. It was launched in partnership with Pirum Systems and Clearstream Banking.
Since its introduction, market participants committing to the securities lending CCP include DekaBank, ING Bank, Maple Bank, Natixis, Nomura International, Société Générale and Santander Global Banking & Markets.
“The design of the CCP service by Eurex Clearing ensures that the bilateral trade negotiation aspect of the securities lending market is retained and enables us to continue to manage our counterparty relationships,” said Walter Kraushaar, global head of securities finance at Maple Bank.
“Eurex Clearing has provided pioneering features such as a specific lender licence that benefits both agent lenders and their beneficial owners,” added Michael Cyrus, head of short term products at DekaBank.
Thomas Book, CEO of Eurex Clearing, said: “We are happy our close cooperation with leading market participants has helped us to build our innovative offering. Our lending CCP service preserves the special structure of the securities lending market and offers the capital efficiency and safety of a proven and recognised CCP model—making our offering unique."
Equities from three additional European countries have been accepted and a solution for voluntary corporate actions has been in operation since early June.
Blue chip equities from Belgium, France and the Netherlands are now eligible for the CCP service that already covers equities from Germany and Switzerland and a range of international fixed income instruments and exchange-traded funds.
A full range of voluntary corporate actions is also now included in the service, based on bilateral agreements between lenders and borrowers.
Eurex Clearing’s new CCP service for securities lending went live on 22 November 2012. It was launched in partnership with Pirum Systems and Clearstream Banking.
Since its introduction, market participants committing to the securities lending CCP include DekaBank, ING Bank, Maple Bank, Natixis, Nomura International, Société Générale and Santander Global Banking & Markets.
“The design of the CCP service by Eurex Clearing ensures that the bilateral trade negotiation aspect of the securities lending market is retained and enables us to continue to manage our counterparty relationships,” said Walter Kraushaar, global head of securities finance at Maple Bank.
“Eurex Clearing has provided pioneering features such as a specific lender licence that benefits both agent lenders and their beneficial owners,” added Michael Cyrus, head of short term products at DekaBank.
Thomas Book, CEO of Eurex Clearing, said: “We are happy our close cooperation with leading market participants has helped us to build our innovative offering. Our lending CCP service preserves the special structure of the securities lending market and offers the capital efficiency and safety of a proven and recognised CCP model—making our offering unique."
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