Eurex Expands US Footprint with Barclays Partnership
- Barclays has joined EurexOTC Clear to offer Eurex’s services through its futures commission merchant.
Eurex Group, an exchange operator, announced this Thursday that Barclays has joined EurexOTC Clear, to support the expansion of the distribution network in the United States.
Under the agreement, Barclays will offer the group’s over-the-counter (OTC) clearing services through its US registered futures commission merchant (FCM) to clients based in America.
Barclays is the first European bank to provide a gateway for clients to access Eurex’s OTC services in the US. According to the statement, the first transaction has already been cleared.
Commenting on the collaboration, Stephen Li, Barclays Head of ADS Americas said: “We are pleased to connect to Eurex Clearing from the U.S. as it demonstrates Barclays’ commitment to provide choice and meet clients’ needs for an alternative Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term pool in euro interest rate swap clearing.”
US Demand Continues to Rise for Eurex Clearing
The partnership with Barclays demonstrates an uptick in demand for Eurex’s services in the US, the statement said. Citi was the first US-based FCM to offer its clients swap clearing through Eurex Clearing.
Following on from this Bloomberg and Tradeweb, two Swap Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term Facilities (SEF) based in the US, set up direct connectivity with the group's OTC clearing. This allowed US clients to submit their executed swap transactions to Eurex Clearing.
Towards the end of 2018, Eurex Clearing received approval from the Commodity Futures Trading Commission (CFTC) to offer swap clearing in the US, as Finance Magnates reported.
Tim Gits, Head of FI Sales Americas at Eurex
“Barclays is a great addition to our EurexOTC Clear offering and a testament to the growing interest we are experiencing in the U.S,” added Tim Gits, Head of Fixed Income Sales Americas at Eurex.
“The growth we have seen from U.S. institutions since receiving CFTC approval in late 2018 has been very encouraging, and the number of FCMs and clients in the pipeline is very promising.”
Eurex Group, an exchange operator, announced this Thursday that Barclays has joined EurexOTC Clear, to support the expansion of the distribution network in the United States.
Under the agreement, Barclays will offer the group’s over-the-counter (OTC) clearing services through its US registered futures commission merchant (FCM) to clients based in America.
Barclays is the first European bank to provide a gateway for clients to access Eurex’s OTC services in the US. According to the statement, the first transaction has already been cleared.
Commenting on the collaboration, Stephen Li, Barclays Head of ADS Americas said: “We are pleased to connect to Eurex Clearing from the U.S. as it demonstrates Barclays’ commitment to provide choice and meet clients’ needs for an alternative Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term pool in euro interest rate swap clearing.”
US Demand Continues to Rise for Eurex Clearing
The partnership with Barclays demonstrates an uptick in demand for Eurex’s services in the US, the statement said. Citi was the first US-based FCM to offer its clients swap clearing through Eurex Clearing.
Following on from this Bloomberg and Tradeweb, two Swap Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term Facilities (SEF) based in the US, set up direct connectivity with the group's OTC clearing. This allowed US clients to submit their executed swap transactions to Eurex Clearing.
Towards the end of 2018, Eurex Clearing received approval from the Commodity Futures Trading Commission (CFTC) to offer swap clearing in the US, as Finance Magnates reported.
Tim Gits, Head of FI Sales Americas at Eurex
“Barclays is a great addition to our EurexOTC Clear offering and a testament to the growing interest we are experiencing in the U.S,” added Tim Gits, Head of Fixed Income Sales Americas at Eurex.
“The growth we have seen from U.S. institutions since receiving CFTC approval in late 2018 has been very encouraging, and the number of FCMs and clients in the pipeline is very promising.”