Eurex plans to expand repo partnership programme
25 October 2018 London
Image: Shutterstock
Eurex Clearing will expand its partnership programme to cover the repo and over-the-counter (OTC) foreign exchange segments.
Eurex announced its plans following the initiation of Eurex’s OTC interest rate derivatives segment, which started in January 2018.
As part of its partnership programme, Eurex Clearing shares governance and economics with the most active programme participants.
For the repo segment, the aim of the programme is to increase choice and efficiency for market participants in special repo and general collateral instruments and to foster adoption and growth in the dealer-to-client repo business.
The new FX segment of the partnership programme is designed to deliver the benefits of clearing to OTC FX markets, which are still largely uncleared today.
Eurex Clearing is currently working with market participants to be the first major clearinghouse to offer a comprehensive cross currency swap clearing service.
Market participants can now register their interest to join the new programme components for a planned start in Q1 2019.
Commerzbank, Deutsche Bank, J.P. Morgan and Morgan Stanley have expressed an early interest to join both new segments–Repo and OTC FX .
In addition, Citigroup, DekaBank and Landesbank Baden-Württemberg have indicated their interest in participating in the repo programme.
Erik Müller, CEO of Eurex Clearing, commented: “The extension of the partnership programme further enhances choice and innovation in the marketplace.”
He added: “Market participants now can tap the full benefits of Eurex Clearing’s integrated value proposition across fixed income derivatives, Repo and FX markets.”
Charles Bristow, co-head of global rates trading at J.P. Morgan, said: “J.P. Morgan has been an early supporter and design partner for the OTC interest rate derivatives clearing segment of the partnership programme.”
He added: “We welcome the planned extension of this successful programme which is aimed at broadening market participants’ clearing options for the new asset classes and increasing resiliency.“
Eurex announced its plans following the initiation of Eurex’s OTC interest rate derivatives segment, which started in January 2018.
As part of its partnership programme, Eurex Clearing shares governance and economics with the most active programme participants.
For the repo segment, the aim of the programme is to increase choice and efficiency for market participants in special repo and general collateral instruments and to foster adoption and growth in the dealer-to-client repo business.
The new FX segment of the partnership programme is designed to deliver the benefits of clearing to OTC FX markets, which are still largely uncleared today.
Eurex Clearing is currently working with market participants to be the first major clearinghouse to offer a comprehensive cross currency swap clearing service.
Market participants can now register their interest to join the new programme components for a planned start in Q1 2019.
Commerzbank, Deutsche Bank, J.P. Morgan and Morgan Stanley have expressed an early interest to join both new segments–Repo and OTC FX .
In addition, Citigroup, DekaBank and Landesbank Baden-Württemberg have indicated their interest in participating in the repo programme.
Erik Müller, CEO of Eurex Clearing, commented: “The extension of the partnership programme further enhances choice and innovation in the marketplace.”
He added: “Market participants now can tap the full benefits of Eurex Clearing’s integrated value proposition across fixed income derivatives, Repo and FX markets.”
Charles Bristow, co-head of global rates trading at J.P. Morgan, said: “J.P. Morgan has been an early supporter and design partner for the OTC interest rate derivatives clearing segment of the partnership programme.”
He added: “We welcome the planned extension of this successful programme which is aimed at broadening market participants’ clearing options for the new asset classes and increasing resiliency.“
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