28 February 2017
Visit EBAday.com

BNP Paribas and Morgan Stanley join EurexOTC Clear

13 January 2014  |  1021 views  |  0 Source: Eurex

BNP Paribas and Morgan Stanley, two major global banks, joined EurexOTC Clear for Interest Rate Swaps (IRS), Eurex Clearing's central counterparty service for OTC derivatives, increasing the total number of clearing members to 32.

"Joining EurexOTC Clear is a major element of our approach to offer a full scope of OTC CCP services to our clients all over Europe. Eurex Clearing's CCP offering together with our expertise will enable our clients to have a choice of CCP provider and prepare for OTC clearing prior to the start of the EMIR mandatory clearing date," said Gavin Dixon, Global Co-Head of FI Clearing at BNP Paribas.

"Morgan Stanley is delighted to be live with Eurex's IRS clearing. Eurex Clearing is a major provider of CCP services in Europe and we see a lot of demand from our clients to take advantage of the clearing service in interest rate swaps - with an eye on the future ability to cross-margin their listed and OTC derivatives, specifically in Euro denominated products," said Andy Ross, Head of European OTC Clearing at Morgan Stanley.

"We are happy to welcome BNP Paribas and Morgan Stanley as new OTC clearing members. Overall, we are very pleased about the progress in rolling out the service and the client feedback received. By now, all major global sell-side firms are connected and support EurexOTCClear," added Matthias Graulich, Global 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. Eurex Clearing will continue to further expand the service in 2014, which is a major element of Eurex Clearing's comprehensive roadmap in preparing for the changing regulatory environment.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit dh.com Visit contisgroup.com

Who is commenting?

A Finextra member Finextra Member Commented on: Really really really K...
A Finextra member Finextra Member Commented on: In wake of Cloudflare...
A Finextra member Finextra Member Commented on: Bank consultancy Zeb o...

Top topics

Most viewed Most shared
EBA to relax controversial PSD2 authentication rulesEBA to relax controversial PSD2 authentica...
14038 views comments | 53 tweets | 74 linkedin
BNY Mellon seeks blockchain experts for new emerging biz and tech teamBNY Mellon seeks blockchain experts for ne...
8023 views comments | 7 tweets | 4 linkedin
hands typing furiouslyBlockchain Technology
7806 views 1 | 18 tweets | 8 linkedin
Starling releases Open API, talks up marketplace modelStarling releases Open API, talks up marke...
7555 views comments | 19 tweets | 18 linkedin
Barclaycard strikes new wearable deals for contactless jewellery and watchesBarclaycard strikes new wearable deals for...
6927 views comments | 17 tweets | 15 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job