NEX Markets connects with Eurex
01 November 2018 London
Image: Shutterstock
NEX Markets has connected with Eurex to launch a new clearing solution for BrokerTec Europe customers.
The new clearing solution will be live by the end of the year and it will allow BrokerTec clients to select to clear their repo transactions via Eurex Clearing.
The solution will allow market participants to consolidate their European repo and corresponding over-the-counter and listed derivatives business under the single risk framework of Eurex Clearing, via the BrokerTec platform.
BrokerTec customers who choose to clear repo transactions will be able to optimise cross-asset portfolios more efficiently.
According to NEX, enabling competitive markets to adapt to fundamental changes is becoming increasingly important.
This includes, for example, the UK’s departure from the EU and the European securities settlement engine, T2S.
Working together will allow BrokerTec and Eurex Clearing to target new clients and reach additional liquidity pools for its central counterparty clearing (CCP).
Matthias Graulich, member of the executive board, Eurex Clearing, stated: “In the future, the scale and scope of our cleared markets will provide unique capital and balance-sheet netting opportunities for clients across repo and derivatives.”
John Edwards, managing director, BrokerTec Europe, said: “As the leading dealer to dealer trading venue for both Euro and Sterling denominated repos, there are emerging opportunities in a post- Brexit world, as well as a desire to extend and diversify the clearing choices that our customers have when trading repo.”
“By working with Eurex Clearing, this connectivity offers our trading participants further options when settling Special and GC repo transactions and providing capital efficiencies to our clients.”
The new clearing solution will be live by the end of the year and it will allow BrokerTec clients to select to clear their repo transactions via Eurex Clearing.
The solution will allow market participants to consolidate their European repo and corresponding over-the-counter and listed derivatives business under the single risk framework of Eurex Clearing, via the BrokerTec platform.
BrokerTec customers who choose to clear repo transactions will be able to optimise cross-asset portfolios more efficiently.
According to NEX, enabling competitive markets to adapt to fundamental changes is becoming increasingly important.
This includes, for example, the UK’s departure from the EU and the European securities settlement engine, T2S.
Working together will allow BrokerTec and Eurex Clearing to target new clients and reach additional liquidity pools for its central counterparty clearing (CCP).
Matthias Graulich, member of the executive board, Eurex Clearing, stated: “In the future, the scale and scope of our cleared markets will provide unique capital and balance-sheet netting opportunities for clients across repo and derivatives.”
John Edwards, managing director, BrokerTec Europe, said: “As the leading dealer to dealer trading venue for both Euro and Sterling denominated repos, there are emerging opportunities in a post- Brexit world, as well as a desire to extend and diversify the clearing choices that our customers have when trading repo.”
“By working with Eurex Clearing, this connectivity offers our trading participants further options when settling Special and GC repo transactions and providing capital efficiencies to our clients.”
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