Eurex and Board of Trade Clearing Corporation (BoTCC)
announced their much-anticipated deal last week that will
create a new cross Atlantic clearing platform for Eurex
products in the US and Europe early next year.
The long-term contract, which runs between four and ten
years, will allow BoTCC customers a choice in clearing at BoTCC
or Eurex Clearing, as well as direct access to Eurex benchmark
products. Eurex customers, likewise, will be able to clear
Eurex US products on Eurex's clearing house or at BoTCC.
Beyond clearing choice, Eurex contracts and future US
products will be listed in the US and Europe and will be
fungible. That also allows for lower margin requirements, cross
margining and reduced collateral requirements through the use
of collateral pools.
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