Eurex faces more delays to cross-currency swap clearing
Clearing house eyes June release; dealers voice concerns over liquidity and margining
Eurex Clearing is said to be planning to debut its cross-currency swap clearing service by the end of June, after repeated delays caused the launch to slip from the original end-2018 date. However, dealers have reservations over the liquidity of the cleared product and the increases in posted margin versus non-cleared trades.
“We are still doing lots of internal work to be able to make it work but there are some challenges,” says a managing director and clearing expert at a large European bank
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