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Bloomberg’s OTC electronic trading services offer direct connectivity to Eurex Clearing

Release date: 04 May 2016 | Eurex Clearing

Bloomberg’s OTC electronic trading services offer direct connectivity to Eurex Clearing

Eurex Clearing, Europe’s leading clearing house and part of Deutsche Börse Group, has connected Bloomberg as an approved trade source for EurexOTC Clear, the Interest Rate Swaps Clearing offering of Deutsche Börse.

With the addition of Bloomberg, traders using Bloomberg’s electronic trading or post-trade voice confirmation systems can now directly submit their OTC trades for clearing on Eurex Clearing’s OTC CCP. The first trade to be successfully cleared using this direct connectivity was between Société Générale and Zürcher Kantonalbank.

The direct connectivity enables Bloomberg’s large sell- and buy-side community to benefit from straight through processing (STP) of their OTC transactions, reducing time to market and providing a valuable improvement for the whole industry.

“Bloomberg’s offering in the IRS swaps electronic trading market is further strengthened by our direct clearing connectivity to Eurex OTC Clear. This service, which Bloomberg is the first to offer, creates significant workflow and execution efficiencies to the shared clients of Bloomberg and EurexOTC Clear. We look forward to working closely with Eurex Clearing as the clearing mandate in Europe approaches,” said Nicholas Bean, Global Head, Fixed Income Electronic Trading Product at Bloomberg L.P.

“For Eurex Clearing, the addition of Bloomberg further increases its value proposition, offering clients a broader choice of electronic trading platforms and adding liquidity from a diversified pool of buy and sell side firms connected to Bloomberg,” said Philip Simons, Global Head, Fixed Income & FX
Derivatives Trading & Clearing Sales at Deutsche Börse.

Notes to the editors:
Eurex Clearing serves more than 185 clearing members in 17 countries, managing a collateral pool of around EUR 59 billion and clearing gross notional of approx. EUR 17 trillion every month. Currently, EurexOTC Clear has already 50 clearing members and over 100 buy-side firms admitted as clients.
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Media contact:

Grit Beecken

Spokesperson for Clients, Products & Core Markets division (Eurex, Eurex Clearing, Clearstream)

Mergenthalerallee 61
65760 Eschborn

T +352 2 43-3 23 75