Eurex Clearing adds one more to clearing service 02 September 2013Frankfurt Reporter: Georgina Lavers
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Eurex Clearing has welcomed Deutsche Zentral-Genossenschaftsbank, Frankfurt/Main (DZ BANK) as a new member of EurexOTC Clear for Interest Rate Swaps.
The number of clearing members on EurexOTC Clear increases to 15. In addition to serving affiliates, DZ BANK will offer its services to other interested clients as well.
“Participation in EurexOTC Clear is a strategic decision for DZ BANK. With Eurex Clearing’s services, we can also expand and enhance our range of services as a clearing broker for banks and institutional clients,” commented Lars Hille, member of the board of managing directors of DZ BANK.
“We are very pleased to welcome DZ BANK AG as a new user of our EurexOTC Clear offering, as this Volksbanken Raiffeisenbanken cooperative financial network is an important pillar in the German banking system. This confirms the attractiveness of our offering,” added Thomas Book, CEO of Eurex Clearing.
EurexOTC Clear for Interest Rate Swaps was launched in November 2012, and offers fully integrated clearing and collateralisation of OTC transactions and listed derivatives in a single clearing house and under one legal framework.
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