Frankfurt
09 October 2017
Reporter: Theo Andrew

Eurex Clearing launches partnership programme


Eurex Clearing has developed a partnership programme for the clearing of interest swap rates, designed to “accelerate the development of liquid, EU-based alternatives”, the firm said.

The programme plans to build a “balanced ecosystem”, responsible for aligning responsibilities and benefits related to economics and governance, bringing “greater choice and transparency” to the market.

The clearinghouse co-developed the programme with major players in the interest rate swap market, including dealers, end-clients and execution ventures.

Early interest has been registered from the Bank of America Merrill Lynch, Citigroup, Commerzbank, J.P. Morgan, Deutsche Bank and Morgan Stanley.

Registration for the programme opened on 9 October 2017 and will close on 20 November 2017, with the 10 most active participants to be included in the governance and committee structure of Eurex Clearing.

Eric Müller, CEO of Eurex Clearing, said: “This market-led initiative will benefit clients and the broader market place through greater choice and competition, improved price transparency as well as reduced concentration risk.”

Sam Wisnia, global head of rates and FX at Deutsche Bank, added: “This programme is a constructive contribution to help the marketplace navigate the political and regulatory challenges facing our industry.”

More news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Murex to run MX.3 platform on AWS cloud
13 December 2017 | Paris | Reporter: Becky Butcher
Murex has collaborated with Amazon Web Services to allow its clients to deploy, test and optimise its MX.3 platform on the cloud
Northern Trust appoints Edwin Chan
13 December 2017 | London | Reporter: Becky Butcher
Edwin Chan has joined Northern Trust to head up sales across the alternatives fund sector in Europe, the Middle East and Africa
Firms remain open to exposures from manual processes
13 December 2017 | New York | Reporter: Becky Butcher
Only 2 percent of capital markets companies have a fully automated compliance support programme, leaving firms open to risk from manual processes, according to a survey by Aite Group and Cordium
Oslo Connect receives regulatory upgrade
12 December 2017 | Stockholm | Reporter: Becky Butcher
Baymarkets Technology is to upgrade Oslo Børs’s OTC system, Oslo Connect, to support regulatory demands such as those under the second Markets in Financial Instruments Directive (MiFID II)
Italian custody win for BNP Paribas
12 December 2017 | Milan | Reporter: Jenna Lomax
BNP Paribas will provide Sara Assicurazioni with global custody services for €1.3 billion in Italian and foreign assets
Fundsquare and i-Hub bring KYC service to funds
12 December 2017 | Luxembourg | Reporter: Becky Butcher
Fundsquare and i-Hub have signed a commercial partnership for the introduction of i-Hub’s know-your-customer (KYC) platform to the funds industry
Zedra hires Lisa Tan
12 December 2017 | Singapore | Reporter: Becky Butcher
Zedra has appointed Lisa Tan as head of corporate services, based in the firm’s Singapore office
More news