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Deutsche Boerse Group
DZ BANK AG new clearing member in EurexOTC Clear
Connected since 30 August 2013/
Extension of network to cover cooperative financial sector
Eurex Clearing, Europe's leading clearing house, welcomes DZ BANK AG
Zentral-Genossenschaftsbank, Frankfurt/Main, as a new member of EurexOTC
for Interest Rate Swaps (IRS). The number of clearing members on EurexOTC
increases to 15. In addition to serving major group companies and
DZ BANK AG will offer its services to other interested clients as well.
“Participation in EurexOTC Clear is a strategic decision for DZ BANK. With
Eurex Clearing’s services, we can also expand and enhance our range of
as a clearing broker for banks and institutional clients,” commented Lars
Hille, Member of the Board of Managing Directors of DZ BANK AG.
“We are very pleased to welcome DZ BANK AG as a new user of our EurexOTC
offering, as this Volksbanken Raiffeisenbanken cooperative financial
an important pillar in the German banking system. This confirms the
attractiveness of our offering,” added Thomas Book, CEO of Eurex Clearing.
EurexOTC Clear for Interest Rate Swaps was launched on 13 November 2012.
Clearing offers fully integrated clearing and collateralization of OTC
transactions and listed derivatives in a single clearing house and under
legal framework. Eurex Clearing’s members and their clients benefit from
capital efficiency via portfolio margining of listed and OTC transactions
(cross-margining) as well as a wide range of eligible collateral compared
other CCPs. There are also a variety of segregation solutions, including an
Individual Clearing Model that offers maximum protection of client assets
full portability of their positions and collateral.
Heiner Seidel, Tel.: +49 (0) 69 211 1 15 00, e-mail:
About DZ Bank
DZ BANK is the fourth largest bank in Germany and the central institution
more than 900 German cooperative banks. Within the Volksbanken
cooperative financial network, which is one of Germany’s largest
financial services organizations, the DZ BANK AG functions both as a
institution and as a corporate and investment bank. As a holding, DZ BANK
coordinates the efforts of the cooperative sector's comprehensive range of
specialized services in order to achieve synergies and grow market
for the benefit of the local cooperative banks. The DZ BANK Group includes
Bausparkasse Schwäbisch Hall, R+V Versicherung Union Investment Group, and
various other specialized institutions.
About Eurex Clearing
Eurex Clearing is one of the leading central counterparties globally
the safety and integrity of markets while providing innovation in risk
management, clearing technology and client asset protection. Eurex Clearing
provides fully-automated, straight-through post-trade services for
equities, bonds, secured funding & financing and energy transactions, as
as industry-leading risk management technologies.
As part of Eurex Group, Eurex Clearing serves more than 150 clearing
16 countries, managing a collateral pool of around EUR 48 billion and
processing gross risks valued at almost EUR 7.5 trillion every month. In
we cleared around 1.7 billion derivatives contracts – nearly half of which
traded off-exchange (over-the-counter, OTC).
Find out more at www.eurexclearing.com
Eurex Group is comprised of Eurex Exchange, the International Securities
Exchange (ISE), the European Energy Exchange (EEX), Eurex Clearing, Eurex
and Eurex Repo.
Eurex Group is owned by Deutsche Börse AG (Xetra: DB1).
Further information from Deutsche Boerse Group
is available under http://deutsche-boerse.com/press
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