Eurex looking to clear OTC derivatives from Asian clients within 12 months

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European derivatives exchange Eurex may start clearing over-the-counter derivatives trades from Asian clients within 12 months, as it looks to expand its footprint in the region from its Singapore base.

Frankfurt-based Eurex will start clearing interest rate swaps for European clients in Asia by the end of 2012, and hopes to capture demand from locally based firms next year.

In a press briefing in Hong Kong, Thomas Book, head of clearing at Eurex, emphasised the exchange's commitment to beef up

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