Eurex launches deliverable cross currency swaps and OTC FX clearing

Following a successful test phase, Eurex Clearing has gone live with its clearing service for deliverable cross currency swaps and OTC FX. Commerzbank has joined J.P. Morgan and Morgan Stanley as Clearing Members to enable the completion of testing and go-live of the service.

August, 2021

Erik Müller
Erik Müller

The transactions are cleared and settled on a net basis across cross currency swaps and OTC FX. This significantly reduces capital requirements under SA-CCR, the standardized approach for measuring counterparty credit risk.  Erik Müller, CEO of Eurex Clearing: “Central clearing and guaranteed settlement for cross currency swaps in CLSClearedFX is a world first. We are pleased to have launched this together with CLS to deliver capital, liquidity and settlement benefits – providing further resilience to the market.”