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Eurex Clearing: Partnership program gains broad market support

First Published 20th November 2017

Eurex Clearing said its offer to accelerate the development of a liquid, EU based alternative for the clearing of interest rate swaps has so far received support from twenty participants

Around 20 market participants from the US, the United Kingdom and Continental Europe have decided to participate in Eurex Clearing's partnership program. The early sign-up period expires on November 20, and the participants will be disclosed on the Eurex Clearing website.

With this program, Eurex Clearing shares a significant part of the revenues of its interest rate swap segment with the ten most active participants. In addition, Eurex Clearing opens its governance structure, thus ensuring that clients participate in the strategic development of the CCP.

"Clients are looking for a market-led alternative to clear interest rate swaps - and we are a committed partner", says Erik Müller, CEO of Eurex Clearing. "This way we support the financial industry in times of enduring uncertainty and foster choice and competition in the interest rate swap market together with our clients."

The partnership program is open to all clearing members and Registered Clients of Eurex Clearing. It has been designed in close consultation with major participants in the interest rate swap market including dealers, end-clients and execution venues. Next to regulatory certainty, clients focus on enhanced price transparency and reduced concentration risks.