Buy side mulls new Eurex direct clearing model
Eurex's new agency-style direct client clearing model may cut regulatory-driven costs, but regulators are wary
Buy-side derivatives users are mulling becoming direct members of Eurex Clearing under a new agency model developed by the central counterparty (CCP) - but regulators are wary of the risks posed by introducing less regulated entities into the clearing house.
The German CCP is developing a framework to allow buy-side entities, in particular pension funds, supranationals and large asset managers, to clear their trades directly with a clearing house, instead of via a bank clearing member. The
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