Cr茅dit Agricole teams up with Eurex for IRS clearing
17 February 2016 Paris
Image: Shutterstock
Cr茅dit Agricole CIB is the latest investment bank to sign up to EurexOTC Clear as a direct clearing member for interest rate swaps (IRS).
The corporate and investment banking arm of the Cr茅dit Agricole Group joins around 50 direct clearing members and 100 buy-side firms that are connected to Eurex Clearing鈥檚 OTC service.
Arnaud d鈥橧ntignano, head of the transversal functions group within the global market division at Cr茅dit Agricole CIB, said: 鈥淛oining EurexOTC Clear confirms Cr茅dit Agricole CIB鈥檚 commitment to be present where the bank鈥檚 European clients choose to clear their OTC derivatives to comply with the European Market Infrastructure Regulation clearing obligation.鈥�
鈥淲e are already a clearing member of Eurex Repo and Eurex Bonds. This extended membership will allow the bank to benefit from cross margining and hence to reduce our clearing cost in the future.鈥�
Matthias Graulich, member of the Eurex Clearing executive board, added: 鈥淒irect membership to Eurex Clearing has been a trend we can observe over the past 12 months, therefore we are pleased that with Cr茅dit Agricole CIB the next important French sell-side bank has joined our OTC clearing service for interest rate swaps."
鈥淥ur offering in general and direct membership in particular help to ease the rising costs of regulation by benefitting from margin, capital and collateral efficiency.鈥�
The corporate and investment banking arm of the Cr茅dit Agricole Group joins around 50 direct clearing members and 100 buy-side firms that are connected to Eurex Clearing鈥檚 OTC service.
Arnaud d鈥橧ntignano, head of the transversal functions group within the global market division at Cr茅dit Agricole CIB, said: 鈥淛oining EurexOTC Clear confirms Cr茅dit Agricole CIB鈥檚 commitment to be present where the bank鈥檚 European clients choose to clear their OTC derivatives to comply with the European Market Infrastructure Regulation clearing obligation.鈥�
鈥淲e are already a clearing member of Eurex Repo and Eurex Bonds. This extended membership will allow the bank to benefit from cross margining and hence to reduce our clearing cost in the future.鈥�
Matthias Graulich, member of the Eurex Clearing executive board, added: 鈥淒irect membership to Eurex Clearing has been a trend we can observe over the past 12 months, therefore we are pleased that with Cr茅dit Agricole CIB the next important French sell-side bank has joined our OTC clearing service for interest rate swaps."
鈥淥ur offering in general and direct membership in particular help to ease the rising costs of regulation by benefitting from margin, capital and collateral efficiency.鈥�
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