Eurex tees up OTC forex clearing with CLS

Net settlement at CLS could slash liquidity risks for CCPs clearing OTC forex contracts

Cog wheels and dollar and pound signs
Settlement service could reduce liquidity burdens

Eurex Clearing has struck a deal with CLS to utilise its net settlement service for cleared over-the-counter foreign exchange derivatives, has learned.

The move allows Deutsche Börse-owned Eurex, which currently clears and settles forex futures and listed options, to add OTC forex products such as swaps and forwards to its clearing service.

“This co-operation [with CLS] allows us to further expand our forex product portfolio,” says Heike Eckert, deputy chief executive of Eurex

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