Eurex Clearing’s innovative central counterparty service for the securities lending market will go live on 22 November. The offering will be the first service in Europe to preserve the special structure of the securities lending market combined with a proven and an industry-accepted CCP model.
In addition, the new lending CCP delivers significant capital and operational benefits to all participants and supports our customers with the mitigation of their counterparty risk. Thereby we prove our strong commitment to reducing systemic risks as well as ensuring the efficiency and safety of the overall market.
Eurex Clearing has chosen prominent partners and specialists in the securities lending market for introducing this service: Pirum System’s Real-Time service for bilaterally agreed OTC transactions and the trading capabilities of Eurex Repo’s SecLend Market together with the tri-party collateral management services of Clearstream Banking Luxembourg and Euroclear Bank will form part of our new offering.
For a smooth and efficient start, the service will commence operations with an initial group of banks and asset classes – German and Swiss blue chip equities and ETFs – during its pilot phase. This way, early adopters can align their existing connections and test their infrastructure to access our CCP service.