Eurex global clearing link goes live

Eurex global clearing link goes live

Swiss-German exchange Eurex says its transatlantic clearing link has gone live, with Chicago-based trading firm RJ O'Brien (RJO) conducting the first futures transaction on the system.

The first phase of the clearing link was implemented in October following approval from US regulators. The system enables US firms to trade on Eurex Deutschland but to clear transactions through the Chicago-based Clearing Corporation.

Gerald Corcoran, CEO, RJO, says: "This clearing link is the most efficient way for an independent company like RJO to have access to the Eurex markets without investing significantly in trading and clearing infrastructure on the European continent."

Rudolf Ferscha, CEO, Eurex, says the new link provides the US clearing community with direct access to European trading.

Eurex is still waiting for regulatory approval for the second phase of its global clearing link, which will allow Eurex members to clear USD and EUR benchmark products traded at Eurex US, and use one common collateral pool to portfolio-margin European and US products.

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