Rate Swaps (IRS). By joining this central counterparty (CCP) for over-the-counter (OTC) derivatives, ABN AMRO Clearing and its wide range of clients will be able to prepare and get ready for the impending OTC clearing obligations in Europe.
“As the largest clearing member of Eurex, we are pleased to further extend our clearing offering in the OTC area. ABN AMRO Clearing is determined to remain at the forefront of the growth industry. With the expansion of our Eurex Clearing membership to EurexOTC Clear, we can now offer our clearing clients a truly complete service offering where we can cross correlate between OTC and exchange-traded derivatives,” said Alexander Jacobs, Head of the OTC Derivatives Clearing Service at ABN AMRO Clearing.
“We are pleased to on-board ABN AMRO Clearing as new clearing member of our OTC clearing service. This proves our appealing approach given the size and relevance of one of Europe’s most significant financial institution with its strong client base. By joining EurexOTC Clear, the bank and its clients are able to realize capital efficiencies while benefitting from enhanced safety and transparency,” added Matthias Graulich, Head of Business Relations and OTC Development, Eurex Clearing.
With its service EurexOTC Clear for IRS, launched on 13 November 2012, Eurex Clearing, a subsidiary of Deutsche Börse AG, fully integrates the clearing and collateralization of OTC and listed derivatives in a single clearing house within one single framework. The service will be further expanded in 2014, it is one important element of Eurex Clearing’s comprehensive roadmap in preparing for the changing regulatory environment.