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International central securities depository (ICSD) Euroclear Bank has become an eligible securities collateral location of Eurex Clearing.
The announcement builds on the existing partnership between the organisations, with the central counterparty already using Euroclear Bank as an eligible securities settlement location.
Mutual clients are now able to post collateral directly to Eurex Clearing and optimise Euroclear Bank’s collateral pool, which the companies state will improve operational efficiency and streamline the collateral management process.
Matthias Graulich, chief strategy officer and member of the executive board at Eurex Clearing, comments: “We are pleased to offer Euroclear Bank as an additional securities collateral location for provision of margin and default fund contributions.
“With this service we jointly create added value for our clients by facilitating a smooth access to the CCP and by enabling efficiencies across the clearing community. Euroclear Bank strengthens our offering for the buy-side clients and complements our existing services.”
Olivier Grimonpont, managing director and head of product management for market liquidity at Euroclear, says: “As an open financial market infrastructure we continuously strive to benefit our ecosystem by creating efficiencies which contribute to a more stable, secure financial marketplace, providing the best-in-class service to clients.”
