Eurex

Articles

31 Mar 2016 — Editor

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

23 Jan 2016 — Byron Baldwin

Eurex Clearing offers a new incentive programme "Expand Liquidity" which grants fee incentives to all Clearing Members and Registered Customers for their OTC Interest Rate Swap business.

06 Jan 2016 — Byron Baldwin

With the mandatory OTC Clearing timetable now finalised for Europe by ESMA, focus will now feature on the efficiencies of each CCP IRS offering and CCP IRS Switches will undoubtedly increase as Banks seek to minimise capital and funding costs via reduced initial margin requirements, default fund contributions and capital regulatory requirements.

04 Jan 2016 — Byron Baldwin

In order to provide our Members and clients with most effective tools to estimate margin requirements, to execute portfolio optimizations or to decide on a clearing venue in general, we partnered with OpenGamma to create a new on-premise margin calculation solution.

08 Dec 2015 — Byron Baldwin

The start of mandatory OTC Clearing in Europe has now been confirmed to begin for Category 1 participants on 21 June 2016. Who qualifies as Category 1?

06 Nov 2015 — Byron Baldwin

Even though it seems the clearing mandate is still so far away from implementation, many buy side firms are undertaking in-depth reviews of the specificities of Eurex Clearing’s segregation offerings. The continued delays within Europe have hindered clearing in general, however this has given buy side clients valuable time to really delve into the detail and here in this article, we hope to highlight some of those key considerations.

16 Oct 2015 — Byron Baldwin

Hedging and Discounting Euro Swaps with a Secured Benchmark - Eurex's EUR Secured Funding Futures allows for the hedging and trading of GC Pooling repo rate for up to 7 months forward (first five ECB Maintenance Periods) and offers an ability to hedge funding exposure with regards to cash VM and PAI in Cleared IRS.

05 Aug 2015 — Byron Baldwin

Blog posts on LinkedIn Pulse by myself from May to August with useful infographics that assist with understanding collaterial efficiency, synthetic euro asset swaps, cross margining, client asset protection, and more.

05 Aug 2015 — Byron Baldwin

Cross Margining at Eurex Clearing is provided by Eurex Clearing's innovative Prisma (Portfolio RISMAnagement) portfolio margining risk management system which calculates Risk and Margin on a portfolio basis segmented by pre defined Liquidation Groups each comprising of closely correlated products within each group.

02 Aug 2015 — Byron Baldwin

Inflation Swap Clearing commences on EurexOTC Clear on Monday 3rd August - this generates superior margin and capital efficiencies for both the Buy Side and Sell Side with ZCIS cleared within the Fixed Income Liquidation Group in Eurex Clearing's PRISMA portfolio margining system with IRS and Fixed Income and Money Market Listed Derivative Products offering portfolio margining efficiencies AND reduced capital regulatory requirements for the Sell Side through the netting of exposures.

13 Jul 2015 — Byron Baldwin

EurexOTC Clear will expand its IRS Product Scope to include Zero Coupon Inflation Swaps (ZCIS) for the Euro Zone Harmonised Index of Consumer Prices, excluding Tobacco (HICPxT), the French Consumer Price Index, excluding Tobacco (FRCPIx) and the UK Retail Price Index (UK RPI) to commence clearing from 3rd. August 2015

24 Jun 2015 — Byron Baldwin

EurexOTC Clear Enhanced Netting & Compression Services - Buy Side and Sell Side alike will be able to benefit from the introduction of Fee Netting and Rate Blending compression functionalities to bring down the gross notional position of an IRS portfolio. All netting will be on an unlinked basis i.e. independent of other counterparties and applicable for D2D and D2C transactions i.e. House and Client.