Eurex Clearing has added another member to its interest rate swaps service, bringing the number of members up to 16.
KAS Bank N.V., based in Amsterdam, is the new member of EurexOTC Clear for Interest Rate Swaps (IRS). The Dutch bank aims to execute self-clearing transactions in a first step.
“The admission of KAS Bank N.V. further increases the attractiveness and distribution of the EurexOTC Clear IRS service to Dutch buy-side firms,” said a statement from the firm.
The service was launched in November 2012, offering integrated clearing and collateralisation of OTC transactions and listed derivatives in a single clearing house and under one legal framework.
“Eurex Clearing’s members and their clients benefit from capital efficiency via portfolio margining of listed and OTC transactions alike (cross-margining) as well as a wide range of eligible collateral compared to other CCPs,” continued the statement.
“There are also a variety of segregation solutions, including an individual clearing model that offers maximum protection of client assets and full portability of their positions and collateral.”
