Union Investment, one of the largest German asset managers for private and institutional investors, became a new user of EurexOTC Clear for Interest Rate Swaps (IRS). They have been connected as an individually segregated client since end of March and have cleared the first transactions using EurexOTC Clear via its clearing member Deutsche Bank. Union Investment is the first major asset manager to have fully concluded onboarding using the German clearing framework agreement. More than 120 further buy-side firms are currently in the connection process to use Eurex Clearing’s OTC service.

Union Investment is a member of the cooperative financial services network (genossenschaftliche FinanzGruppe) and are one of the largest fund management companies in Germany, with around 4.2 million clients and over €200 billion in assets under management.