Eurex Introduces Clearing For OTC Trading In Euribor Futures - First Exchange With OTC Block-Trade Facility For Money-Market Products

Eurex, the European derivatives exchange, is expanding its range of services in clearing to include contracts traded on the exchange: Since Monday, Eurex members have been able to clear OTC transactions in one-month and three-month Euribor futures through the Eurex clearing house, as the company reported. Eurex will make a fully electronic so-called OTC future block trade facility available during the second half of 2000. Until that time, the transaction data will be entered manually by Eurex Clearing AG. The minimum number of contracts per trade is 100 contracts. No fees will be charged for the OTC block trades up to and including December 1999. As of January 2000, the transaction fees will then be 0.25 euros per contract.