Eurex Clearing, one of the world’s leading Central Counterparties (CCP) and part of Deutsche Börse Group, has developed a partnership program designed to further accelerate the development of a liquid, EU based alternative for the clearing of interest rate swaps.
Eurex Clearing has designed the program in close consultation with major participants in the interest rate swap market including dealers, end-clients and execution venues. The performance based program aims to build a balanced ecosystem where responsibilities and benefits are fully aligned between all participants in terms of economics and governance.
The ten most active program participants will be eligible for a significant share in the economics of the multi-currency interest rate swap offering of Eurex Clearing on a permanent basis. In addition, these clients will be included in the governance and committee structure of Eurex Clearing AG. Participation is open to all clearing members and Registered Clients of Eurex Clearing.
Bank of America Merrill Lynch, Citigroup, Commerzbank, Deutsche Bank, J.P. Morgan and Morgan Stanley are among the clients who already registered their early interest to participate in the Eurex Clearing partnership program.