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Eurex Clearing and PGGM work on CCP model for Securities Lending

First Published 12th September 2017

First buy-side client to utilise the Lending CCP's Specific Lender License

Marcel Naas, Deutsche Börse

Marcel Naas, Deutsche Börse

Eurex Clearing has announced that PGGM, the Dutch pension fund service provider, is the first buy-side client to become a direct participant of Eurex Clearing's Securities Lending central counterparty (CCP).

Marcel Naas, Global Head of Funding & Financing at Deutsche Börse Group, added: "We are very pleased to welcome PGGM in our effort to further broaden the reach of our offering for the securities lending market to buy-side clients. The usage by its members will further enhance the attractiveness of our Lending CCP and be mutually beneficial to our clients and other connected markets across asset-classes."

Eurex Clearing's Lending CCP covers loans in equities and exchange-traded funds in Europe as well as fixed income securities. Eurex Clearing's Lending CCP has some of the largest providers of financial services to institutional investors and securities lending agents as strategic partners. The direct CCP access for beneficial owners via the Specific Lender License, provides significant benefits to market participants. It preserves the relationship driven business structure and at the same time delivers the capital efficiency and safety associated with central clearing.