Dutch bank De Volksbank has joined Eurex’s ISA Direct model, to gain the benefits of direct clearing membership to a broader range of institutions.
As part of this move, ABN AMRO Clearing Bank acted as clearing agent for Eurex.
By providing a direct clearing connection, ISA Direct allows a greater number of institutions to benefit from large liquidity pools and greater capital efficiencies including enhanced security from Eurex’s risk management framework.
According to Eurex, ISA Direct offers tangible benefits over traditional clearing models or maintaining bilateral arrangements.
ISA Direct model provides a range of institutions with a reduced balance sheet impact that comes from opening a direct clearing relationship with the central counterparty (CCP) clearing house.
Adam Husted, head of membership sales and relationship management at Eurex, comments: "We are delighted to welcome de Volksbank to ISA Direct, and thank both them and ABN AMRO Clearing for supporting this initiative.”
He adds: "With several notable recent client wins, our direct access model – which offers the market real benefits in terms of balance sheet optimisation and risk management – continues to grow in strength."
