Eurex Clearing Asia to file application with ESMA as next step
22. July 2015
Deutsche Börse Group has received full regulatory approval from the Monetary Authority of Singapore (MAS) to operate Eurex Clearing Asia. This new clearing house of Deutsche Börse Group, based in Singapore, is an integral part of its new trading and clearing offering for investors during Asian trading hours.
As a next step, Deutsche Börse will file an application for Eurex Clearing Asia to be recognized as a third-country central counterparty with the European Securities and Markets Authority (ESMA) in Europe. After ESMA approval, the Asian clearing services will also be accessible to market participants based in the European Union.
The management of Eurex Clearing Asia comprises Roland Schwinn (51) as CEO and Christoph Kraus (43) as COO. Eurex Clearing Asia is an important strategic element of the Asian growth strategy of Deutsche Börse Group. At the end of May, Deutsche Börse Group had also submitted an application for an exchange license with MAS. Both the new trading venue Eurex Exchange Asia and Eurex Clearing Asia are main pillars of Eurex Asia which comprises the offering of new trading opportunities, third-party clearing services and improved post-trade efficiency across the Asian time zone.