A new model for giving clients access to clearing by re-modelling the Client – CCP relationship

Eurex have launched a new 'direct access' model for clearing, giving clients direct access to their OTC and ETD clearing platforms without needing to go via a Clearing Member. Key points include:

• Direct membership of buy side firms at the Clearing House facilitated by a Clearing Agent
• The Clearing Agent covers the default fund contribution, default management obligation and optionally operations and financing functions
• ISA Direct member maintains legal and beneficial collateral ownership 

For more details click over to their website.