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The proposed partnership between Eurex and The Clearing Corporation has received overwhelming approval from US shareholders.


Following approval by shareholders of The Clearing Corporation of a corporate restructuring plan, Eurex, the world's largest derivatives exchange, welcomed the outcome of the vote that clears the way for
The Clearing Corporation to clear trades for its US-regulated and US-based exchange, Eurex US.


Rudolf Ferscha, CEO of Eurex, said: "Today the market has voted for choice, innovation and enhanced services. Our partnership with The Clearing Corporation will give the US market access to a global range of products. This deal is a crucial milestone in the forging of our partnership with the participants in the US financial markets."


The Clearing Corporation shareholders overwhelmingly approved the corporate and capital alignment of the company that will establish a new Guaranty Fund and separate ownership in the company from access to the clearing organisation.


 


Copyright hedgeweek 2003


 


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