Eurex and The Clearing Corporation, the new name under which
Board of Trade Clearing Corporation is now operating, have
signed the definitive agreement for The Clearing Corporation to
clear trades for the exchange's new US-based exchange, due to
be established early next year.
As a result of the deal, The Clearing Corporation is
restructuring to provide Eurex with a 15% stake in the clearing
organisation, the remaining 85% to be held by current
shareholders. The clearing house's capital base will be $100m,
$85m contributed by current shareholders and $15m by Eurex. The
exchange will also take one seat on The Clearing Corporation's
board of directors, with the remaining eight members being
elected by existing shareholders.
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