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Alternative Market Briefing

Aquila Capital completes first IRS trades using Newedge’s OTC clearing service

Thursday, November 28, 2013

Komfie Manolo, Opalesque Asia: Europe’s independent alternative asset manager Aquila Capital said on Wednesday that four of its funds have cleared OTD interest rate swaps (IRS) at LCH.Clearnet’s SwapClear using Newedge’s SwapClear Clearing Membership.

In a statement, Aquila Capital said the deal with multi-asset brokerage and clearing firm Newedge had been facilitated by AQX Securities, an independent multi-asset execution services provider.

Roman Rosslenbroich, CEO Aquila Capital, commented, "OTC IRS Swaps are an important vehicle in our investment and risk management strategies. By transitioning this multi-million dollar business into SwapClear, we now benefit from reduced counterparty risk in a centrally cleared environment, as well as the seamless service of Newedge’s OTC clearing platform."

John Wilson, Global Head of OTC Clearing at Newedge, added, "We are delighted to support Aquila’s expansion into OTC clearing on Newedge’s multi-asset clearing offering, which encompasses listed and OTC derivatives. Our platform and expertise gives clients a choice of global CCPs in a rapidly evolving market, as well as offering support to meet their regulatory reporting obligations."

Newedge’s OTC clearing services, part of a mult......................

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