German asset manager Union Investment has cleared the first transactions using Eurex’s EurexOTC Clear for Interest Rate Swaps (IRS) via its clearing member Deutsche Bank.
Union Investment, which has over €200 billion in AuM, has been connected as an individually segregated client since end of March and is the first major asset manager to have fully concluded onboarding to the service using the German clearing framework agreement.
In addition to Union Investment, more than 120 buy-side firms are currently in the connection process to use EurexOTC Clear for IRS.
German Asset Manager Clears First Transactions Through Eurex for IRS
German asset manager Union Investment has cleared the first transactions using Eurex's EurexOTC Clear for Interest Rate Swaps (IRS) via its clearing member Deutsche Bank.