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Swiss supervisors recognise Eurex Clearing as foreign central counterparty

Release date: 04 Jun 2018 | Eurex Clearing

Swiss supervisors recognise Eurex Clearing as foreign central counterparty

Eurex Clearing AG has been recognised as a foreign central counterparty by the Swiss Financial Market Supervisory Authority (FINMA) under the Financial Market Infrastructure Act. Furthermore, the Swiss National Bank classified Eurex Clearing as a systemically important financial market infrastructure for the stability of the Swiss financial system. The new set-up enables Eurex Clearing to continue to serve its clients in the Swiss markets as usual.

Central clearing of derivatives transactions significantly increases the safety and stability of the financial system. Central Counterparties calculate risks in real-time and demand adequate collateral. Moreover, they guarantee settlement of transactions. In Switzerland, derivatives legislation requires central clearing of standardised interest rate swap contracts.

“The Swiss market is of special importance to Eurex”, says Markus-Alexander Flesch, Global Head of Equity & Index Sales at Eurex. “We have a long-standing, successful partnership model with both the large Swiss banks and the cantonal banks. Also, our product suite is tightly connected to the development of the Swiss market.”