Eurex reports that it has received regulatory approval from ESMA to migrate the most liquid bonds to Prisma, its state-of-the art portfolio-based risk management methodology.
This harmonization of the margin methodology marks the next milestone on the path to offering portfolio-based margin offsets across all Euro Fixed Income & Money Market products to Eurex’s Clearing Members and their clients. Eurex’s integrated framework will significantly enhance capital efficiency, improve collateral utilization and reduce the cost of central clearing of repos, listed derivatives and OTC IRS.
Prisma for bonds and repos comes in two phases:
- 8 December 2025: Bond & Repo margin parameters, margin collateral haircuts and the default fund modelling will be improved.
- 2 February 2026: Clearing Members can select to margin eligible securities under the Prisma methodology and benefit from enhanced bond portfolio margining.
More information is available here.