Morgan Stanley, JP clear first cross-currency swap at Eurex

Two more banks onboarding; CCP hoping to extend service to clients in 2020

Pound, dollar and euro banknotes

Eurex has cleared its first cross-currency swaps trade – the next shoe to drop in the race among major central counterparties (CCPs) to claim a chunk of the largely non-cleared over-the-counter foreign exchange market. 

Morgan Stanley and JP Morgan were the first banks to connect to the service, and have now cleared a trade, the CCP confirms. Two other banks are understood to be onboarding to the service, which the bourse hopes to extend to clients of clearing members next year. The currency

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