EurexOTC Clear Signs Two More Banks

BNP Paribas and Morgan Stanley have joined EurexOTC Clear for Interest Rate Swaps (IRS), Eurex Clearing’s central counterparty service for OTC derivatives, increasing the total number of clearing members to 32.
By Janet Du Chenne(59204)
BNP Paribas and Morgan Stanley have joined EurexOTC Clear for Interest Rate Swaps (IRS), Eurex Clearing’s central counterparty service for OTC derivatives, increasing the total number of clearing members to 32.

The latest members follow ABN Amro, which joined the service last week.

“Joining EurexOTC Clear is a major element of our approach to offer a full scope of OTC CCP services to our clients all over Europe. Eurex Clearing’s CCP offering together with our expertise will enable our clients to have a choice of CCP provider and prepare for OTC clearing prior to the start of the EMIR mandatory clearing date,” said Gavin Dixon, global co-head of FI Clearing at BNP Paribas.

“Eurex Clearing is a major provider of CCP services in Europe and we see a lot of demand from our clients to take advantage of the clearing service in interest rate swaps – with an eye on the future ability to cross-margin their listed and
OTC derivatives, specifically in Euro denominated products,” said Andy Ross, head of European OTC Clearing at Morgan Stanley.

With its service EurexOTC Clear for IRS, launched in November 2012,
Eurex Clearing fully integrates the clearing and collateralization of OTC and listed derivatives in a single clearing house within one single framework.

«