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Alternative Market Briefing

Eurex Clearing’ central counterparty service to go live on Nov. 22

Tuesday, November 06, 2012

Eurex Group , a global player in the financial derivatives business, announced today that Eurex Clearing’s innovative central counterparty (CCP) service for the securities lending market will go live on 22 November.

This will be the first service in Europe to preserve the special structure of the securities lending market and combine it with a proven and an industry-accepted CCP model, says Eurex’s announcement.

The new lending CCP should deliver great capital and operational benefits to all participants, and supports Eurex’s customers with the mitigation of their counterparty risk.

Eurex Clearing chose well-known partners and specialists in the securities lending market for introducing this service: Pirum System's Real-Time service for bilaterally agreed OTC transactions, and the trading capabilities of Eurex Repo's SecLend Market, together with the tri-party collateral management services of Clearstream Banking Luxembourg and Euroclear Bank will form part of the new offering.

The service will commence operations with an initial group of banks and asset classes, such as German and Swiss blue chip equities and ETFs, during its pilot phase. This way early adopters can align their existing connections and test their infrastructure to access Eurex’ CCP service.

Eurex Clearing i......................

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