Eurex takes aim at SwapClear in clearing cost study
German CCP says cross-product clearing makes it less risky than the competition, resulting in a smaller default fund and lower capital costs for members. But banks are divided on those claims
Eurex has staked out the ground on which it hopes to compete in euro-denominated swaps clearing with the market leader, LCH.Clearnet's SwapClear. In a capital- and cost-efficiency study based on analysis by consulting firm Oliver Wyman, Eurex calls itself the "natural hub" for euro over-the-counter and listed derivatives clearing as well as repo and securities lending, because of the netting
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