Deutsche Börse gets 'in-principle' approval from MAS to launch Eurex Clearing Asia

Source: Deutsche Börse Group

Deutsche Börse Group announced today that it has received 'in-principle' regulatory clearance from the Monetary Authority of Singapore (MAS) to set up Eurex Clearing Asia, a clearing house based in Singapore.

The new clearing house of Deutsche Börse Group is an integral part of its new trading and clearing offering for investors during Asian trading hours and is expected to commence operations in 2016. Initially, Eurex Clearing Asia will clear selected European benchmark derivatives listed at Eurex Exchange which are traded during Asian market hours. The range of products cleared will subsequently be extended to include listed derivatives based on Asian underlying assets.

“This is a further important milestone in the Asian growth strategy of Deutsche Börse Group. Eurex Clearing Asia will generate new and interesting business opportunities for our customers, and we are becoming an integral part of the financial center of Singapore. We aim to contribute to its further development and internationalization and look forward to cooperating with MAS and our business partners,” said Andreas Preuss, Deputy CEO of Deutsche Börse AG and CEO of Eurex.

Deutsche Börse Group will also seek recognition as a third-country central counterparty with the European Securities and Markets Authority (ESMA) in Europe for Eurex Clearing Asia. After approval, the Asian clearing services will also be accessible to market participants based in the European Union.

Deutsche Börse Group will combine and market all the services of its Eurex derivatives arm in Asia under the new brand “Eurex Asia”. Eurex Asia’s goal is to offer new trading opportunities, third-party clearing services and improved post-trade efficiency across the Asian time zone.

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