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Eurex Clearing, Europe's leading clearing house, welcomes Zürcher Kantonalbank as a new clearing member of EurexOTC Clear for Interest Rate Swaps (IRS), thus raising the number of clearing participants on EurexOTC Clear to 19. Zürcher Kantonalbank provides OTC derivates clearing in its Prime Services offering.
“EurexOTC Clear offers Zürcher Kantonalbank and our clients with an efficient access to interest derivative clearing which means they meet regulatory requirements without major investment,” commented Felix Oegerli, Head Short Term Interest Rates and Prime Finance at Zürcher Kantonalbank.
“We are pleased to welcome Zürcher Kantonalbank as new clearing member. Connecting one of Switzerland's largest banks reinforces our presence in this important market”, said Matthias Graulich, Head of Business Relations and OTC Development at Eurex Clearing.
EurexOTC Clear for Interest Rate Swaps was launched on 13 November 2012. Eurex Clearing offers fully integrated clearing and collateralization of OTC transactions and exchange-listed derivatives in a single clearing house and in a uniform legal framework. Eurex Clearing’s members and their customers benefit from capital efficiency via portfolio margining of listed and OTC transactions alike (cross-margining) as well as a large range of collateralization compared to other CCPs. There are also a variety of different connection models that offer maximum protection of customer collateral and include transferability of positions and collateral.
