BME in talks with global banks over euro swaps clearing

SIX Group's Spanish CCP wants to establish itself as an alternative venue for onshore clearing by 2025

BME-vies-for-euro-swaps-clearing montage

Several large international banks are in talks with BME Clearing about joining the Madrid-based central counterparty’s (CCP) euro swaps clearing service.

The move comes as European regulators thrash out rules that could push trillions of euros of clearing activity away from London-based LCH to clearing houses in the European Union. EU firms are expected to begin clearing a yet-to-be-determined minimum amount of their euro swaps at EU CCPs ahead of a June 2025 deadline, when the European

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