The World Federation of Exchanges (WFE) has announced the winners of the WFEClear Innovation Awards, presented during WFEClear in Toronto last month. Hosted by TMX Group, the WFE’s annual clearing and derivatives conference brought together clearing houses, regulators and market participants to discuss developments in central counterparty, post-trade and market infrastructure.
Eurex Clearing, part of Deutsche Börse Group, received the top award for its “Reinventing Collateral Mobilisation” initiative, the first DLT-enabled collateral mobilisation service introduced at a central counterparty. The service addresses the challenge of collateral fragmentation by enabling collateral mobilisation across custody locations in real time, without requiring physical transfer of assets.
The project was recognised for introducing new technology alongside existing market infrastructure while maintaining legal certainty, regulatory compliance and operational resilience.
NSE Clearing was named runner-up for its innovative migration of the Indian securities market to a T+1 settlement cycle. Implemented in phases across a complex market structure, the move reduced margin requirements by 50 percent while maintaining settlement stability and improving liquidity.
Nandini Sukumar, Chief Executive Officer of the World Federation of Exchanges, said: “The entries this year reflected the quality of work taking place across clearing markets to improve efficiency and resilience. Eurex Clearing’s winning project tackled a longstanding challenge in collateral management through the careful introduction of new technology, while NSE demonstrated what best practice is with moving a market to a new chapter even while ensuring resilience.”
Efthimia Kefalea, Head of Derivatives Clearing Development & Digital Innovation at Eurex Clearing, said: “We are honoured to receive the WFEClear Innovation Award for ‘Reinventing Collateral Mobilisation’. It highlights our focus on delivering practical innovation for our clients. By leveraging distributed ledger technology in a pragmatic way, we enable a more efficient use of collateral across locations, helping our clients optimise liquidity while operating within a secure and resilient clearing framework.”
Rana Usman, Chief Operations Officer of NSE Clearing, said: “We thank the World Federation of Exchanges for the recognition of our successful migration to T+1 settlement. We at NSE Clearing are very driven by Innovation and this award recognises our efforts and commitment to innovation, efficiency and risk management in Indian markets and recognises the swift implementation of settlement acceleration while maintaining resilience and operational stability.” .
