Eurex to launch cross-currency swap clearing ‘within weeks’
Clearing service will target dealer-to-dealer trades before later rolling out to clients
Eurex’s delayed cross-currency swap clearing service will “go live within the next few weeks”, said Markus Georgi, the Asia head of fixed income products for Eurex.
The service is expected to offer clearing for euro/US dollar and sterling/US dollar currency pairs. It was initially slated for a late 2018 release.
Non-cleared margin rules, which compel the exchange of initial margin in certain bilateral derivatives trades, could have an impact on the demand for foreign exchange clearing in Asia
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