Eurex Clearing’s partnership entices strong market interest
20 November 2017 Frankfurt
Image: Shutterstock
Eurex Clearing has secured 21 early signups to its EU-alternative for interest rate swaps central clearing.
Citigroup, Deutsche Bank, HSBC and J.P. Morgan Securities, to name but a few, signed up for the programme, which opened its registration in October.
Other early joiners include Commerzbank, DZ Bank, BBVA, and LBBW.
The partnership programme is open to all clearing members and registered clients of Eurex Clearing.
According to Eurex, the programme has been designed in close consultation with major participants in the interest rate swap market including dealers, end-clients and execution venues.
Globally, Eurex cleared around 180 million transactions per month this year.
The notional cleared in interest rate swaps at Eurex Clearing has crossed €2 trillion in July 2017.
Erik Müller, the head of the clearinghouse, said: “Clients are looking for a market-led alternative to clear interest rate swap—and we are a committed partner.”
Charles Bristow, co-head of global rates trading at J.P. Morgan, added: “This initiative will bring greater choice and transparency to the market as well providing the opportunity for greater risk diversification and resiliency.”
Stefan Hoops, global co-head of institutional client group at the Deutsche Bank, said: “Deutsche Bank has engaged early as a design partner in the programme. Our global client's value choice and transparency and the program is designed to deliver this.”
Citigroup, Deutsche Bank, HSBC and J.P. Morgan Securities, to name but a few, signed up for the programme, which opened its registration in October.
Other early joiners include Commerzbank, DZ Bank, BBVA, and LBBW.
The partnership programme is open to all clearing members and registered clients of Eurex Clearing.
According to Eurex, the programme has been designed in close consultation with major participants in the interest rate swap market including dealers, end-clients and execution venues.
Globally, Eurex cleared around 180 million transactions per month this year.
The notional cleared in interest rate swaps at Eurex Clearing has crossed €2 trillion in July 2017.
Erik Müller, the head of the clearinghouse, said: “Clients are looking for a market-led alternative to clear interest rate swap—and we are a committed partner.”
Charles Bristow, co-head of global rates trading at J.P. Morgan, added: “This initiative will bring greater choice and transparency to the market as well providing the opportunity for greater risk diversification and resiliency.”
Stefan Hoops, global co-head of institutional client group at the Deutsche Bank, said: “Deutsche Bank has engaged early as a design partner in the programme. Our global client's value choice and transparency and the program is designed to deliver this.”
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