Deutsche Boerse says about 20 banks join its clearing programme
[FRANKFURT] About 20 banks have signed up to Deutsche Boerse's profit-sharing scheme on interest rate swaps at its clearing business, the company said on Monday.
The programme, announced last month, aims to wrest trade from the London Stock Exchange amid the uncertainty over Britain's departure from the European Union.
Deutsche Boerse's EU-based alternative has signed on banks including Bank of America Merrill Lynch, BBVA, Citi, Commerzbank, Deutsche Bank, HSBC, JP Morgan and Morgan Stanley.
Deutsche Boerse's Eurex Clearing business is giving companies until Nov 20 to sign up early with incentives.
The 10 most active programme participants will be eligible for a "significant" share in revenues of interest rate clearing, and have a say in how Eurex is run.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
UBS weighs synthetic risk transfer amid capital boost proposals
Money laundering accused Zhang Ruijin slapped with 5 more charges days before scheduled guilty plea
Japanese yen slides back towards 34-year low after brief spike
China’s Bank of Communications Q1 profit rises 1.44%
HSBC’s private bank shuts independent asset management business in HK, Singapore
Nomura Q4 net profit jumps almost eight-fold on retail income surge