Eurex’s Partnership Program Awarded “Clearing House Innovation Of The Year”

At this year’s ‘Risk Awards 2019’ gala, hosted at the Brewery in London, Eurex Clearing’s Partnership Program was awarded “Clearing house innovation of the year”. Matthias Graulich, Member of the Eurex Clearing Executive Board accepted the award for Eurex. The Risk Awards recognize the work of firms and individuals in the derivatives markets and risk management across the globe.

“We are honored to receive the ‘Clearing House Innovation of the Year’ Award from Risk magazine,” said Matthias Graulich. “We would like to take the opportunity to send a great thanks to our customers. We would never have received this award if we had not received their enormous support for this program.”

Market-led solution for OTC interest rate derivatives in EU27

The performance based program aims to build in collaboration with market participants an attractive offering with a fair distribution of rights and obligations that is aimed at establishing a liquid marketplace for interest rate swap clearing in the euro zone. Against this background, Eurex Clearing installed a Fixed Income and Currency (“FIC”) Board Advisory Committee for the purpose of consulting with and making recommendations to the executive board of Eurex Clearing with respect to the general FIC strategy as well as product and service expansions.

The Committee consists of ten members. They are nominated for a two-year term to the Committee based on their performance in the Eurex Clearing Partnership Program. In addition, the five most active participants of the Partnership Program are represented in Eurex Clearing’s supervisory board.

Real level playing field where the end customers have a fair choice

Barely a year after the launch in January 2018, more than 30 institutions have registered for the program. Over the same period, the outstanding volume more than quadrupled to EUR 9.8 trillion. The market share vis-à-vis London has risen to over 10 percent.

Initial price differences with London have levelled out, so that market participants now have a real alternative for clearing OTC interest rate derivatives. Eurex plans to expand the successful framework of its Partnership Program to cover further asset classes the Repo and FX segments in Qu1/2019.