Euroclear Bank, an international central securities depository (ICSD) based in Brussels, announced today that it has accepted a securities security position of Eurex Clearing AG.
Euroclear Bank and Eurex Clearing clients will now be able to post collateral directly to Eurex Clearing with the ability to further optimize the pool of collateral held in Euroclear’s ICSD. The service offering increases operational efficiency for market participants and streamlines the collateral management process.
Eurex Clearing already uses Euroclear Bank as an eligible securities settlement venue.
Olivier Grimonpont, Managing Director, Head of Product Management, Market Liquidity, Euroclear commented:
“We are excited to have Eurex Clearing join the group of CCPs that use our services to support their critical margin business. As an open financial market infrastructure, we continuously strive to benefit our ecosystem by creating efficiencies that contribute to a more stable, secure financial market by providing best-in-class services to clients.”
Matthias Graulich, Chief Strategy Officer, member of the Executive Board of Eurex Clearing, said:
“We are pleased to offer Euroclear Bank as an additional security position to provide margin and default capital contributions. With this service we jointly create added value for our clients by facilitating seamless access to the CCP and enabling efficiency across the clearing community. In addition, Euroclear Bank strengthens our offering for marketplace clients and complements our existing services such as the ISA Direct and ISA Direct Indemnified settlement models.”