Eurex tees up OTC forex clearing with CLS
Net settlement at CLS could slash liquidity risks for CCPs
Eurex Clearing has struck a deal with CLS to use its net settlement service for cleared over-the-counter foreign exchange derivatives, Risk.net has learned.
The move allows Deutsche Börse-owned Eurex, which currently clears and settles FX futures and listed options, to add OTC FX products such as swaps and forwards.
"This co-operation [with CLS] allows us to further expand our FX product portfolio," says Heike Eckert, deputy chief executive of Eurex Clearing in Frankfurt.
The deal comes more
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