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CFTC Recognizes Eurex Clearing as Multilateral Clearing Organization (MCO)


CFTC order permits Eurex Clearing to expand its OTC facilities in the U.S.

Eurex Clearing announced today that the Commodity Futures Trading Commission (CFTC) issued an order on 31 July 2009 that recognizes Eurex Clearing as a Multilateral Clearing Organization (MCO). This new CFTC order complements Eurex’s and Eurex Clearing’s existing service offering to US customers. Eurex Clearing can now also offer its existing OTC facilities to the 75 Eurex members based in the US.

Through this MCO status, they will be able to enter OTC contracts that share common terms and conditions of futures and options contracts that are listed on the Eurex exchange and fall under CFTC jurisdiction. The range of Eurex Clearing’s OTC facilities comprises for example block trading, exchange for swaps, flex futures and options. Additionally, the CFTC order applies to cleared-only contracts, such as CDS contracts (e.g. offered by Eurex Credit Clear) and OTC contracts on other asset classes.

Eurex Clearing had submitted its request in early 2009. U.S. customers have been permitted by the CFTC to directly access the Eurex listed futures derivatives market since 1998.

About Eurex Clearing

Eurex Clearing AG is one of the world’s leading clearing houses. It offers fully automated and straight-through post trade services combined with an industry-leading risk management for derivatives, equities, repo and fixed income transactions traded at major international exchanges and trading platforms. The offering comprises flexible trade management functions, advanced risk management services, efficient collateral and delivery management tools. As a central counterparty, its focus is to increase market integrity.

Eurex Clearing AG is a wholly owned subsidiary of Eurex Frankfurt AG and is jointly operated by Deutsche Börse AG and SIX Swiss Exchange AG.

Related links
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