Buy side mulls new Eurex direct clearing model

Agency-style arrangement may cut clearing costs, but regulators wary

Not meeting in the middle: users are divided

Buy-side derivatives users are mulling becoming direct members of Eurex Clearing under a new agency model developed by the central counterparty (CCP) - but regulators are wary of the risks posed by introducing less regulated entities into the clearing house.

The German CCP is developing a framework to allow buy-side entities, in particular pension funds, supranationals and large asset managers, to clear their trades directly with a clearing house, instead of via a bank clearing member. The

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Calibrating interest rate curves for a new era

Dmitry Pugachevsky, director of research at Quantifi, explores why building an accurate and robust interest rate curve has considerable implications for a broad range of financial operations – from setting benchmark rates to managing risk – and hinges on…

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