Banks gear up for client clearing

A clear choice

Earlier this year, Dutch asset manager Robeco started asking its banks about the embryonic client clearing services that are intended to give thousands of derivatives users access to central counterparties (CCPs), in line with rules now being fine-tuned on both sides of the Atlantic. Of the eight banks Robeco approached, only five were able to provide a concrete pricing schedule for their services. Of those five, the most expensive was double the cost of the cheapest, says Erik van Leeuwen, head