Newedge UK Financial has joined Eurex Clearing’s service for OTC interest rate swaps.
The addition of Newedge brings the number of member firms on EurexOTC Clear to 17.
“We have expanded our clearing services significantly over the past nine months, from listed derivatives and OTC commodity swaps to IRS OTC swaps. Joining Eurex Clearing is an important part of that strategy,” says Nicolas Breteau, CEO at Newedge.
John Wilson, global head of OTC Clearing at Newedge, adds: “We are delighted to extend our OTC coverage to EurexOTC Clear, thereby enabling clients to enjoy even greater choice of clearing venues and open access to cross margining in the future.”
Newedge’s OTC Clearing service is supported by a partnership between Société Générale Corporate & Investment Banking (SGCIB) and Crédit Agricole Corporate and Investment Bank (CACIB).
EurexOTC Clear for Interest Rate Swaps was launched on Nov. 13 2012. Eurex Clearing offers fully integrated clearing and collateralization of OTC transactions and listed derivatives in a single clearing house and under one legal framework.
Newedge UK Financial Joins EurexOTC Clear
Newedge UK Financial has joined Eurex Clearing’s service for OTC interest rate swaps.