UOB first Asian bank to become Eurex Clearing member

Singapore

UNITED Overseas Bank (UOB) is the first Asian bank to become a member of Eurex Clearing, the clearing house for the Deutsche Borse group.

This comes as the German exchange operator makes a big push into Asia, and two years after the Monetary Authority of Singapore gave approval for banks here to offer clearing services on the Eurex Exchange, Europe's largest derivatives exchange.