20 January 2014
On-boarding of more than 120 buy-side firms has commenced
EurexOTC Clear is happy to announce that since then more than 120 buy-side firms have signed up for onboarding with our IRS OTC clearing solution until today. Among the buy-side firms that are in the connection process, we are seeing leading asset managers, investment firms, hedge funds, pension funds as well as insurance companies and regional banks. Furthermore, a total of 32 Clearing Members, including all major global sell-side banks, have now been connected, with further Clearing Members currently in the admission process.
We would like to thank you for the broad market support of EurexOTC Clear. While the start date of the clearing obligation for Interest Rate Swaps has not yet been determined we are seeing a solid build up of open interest at EurexOTC Clear. December was the busiest transaction month so far, increasing the outstanding gross notional value to more than 10 billion euros.
A next major milestone will be Release 2.0 of Eurex Clearing Prisma, our new portfolio risk management system, which will offer cross-margining across listed and OTC fixed income derivatives starting in May 2014.