Eurex Clearing has welcomed KAS Bank NV, based in Amsterdam, Netherlands, as another member of EurexOTC Clear for Interest Rate Swaps (IRS).
With this new user, the number of clearing members on EurexOTC Clear increases to 16.
The Dutch bank aims to execute self-clearing transactions in a first step. The admission of KAS Bank NV further increases the attractiveness and distribution of the EurexOTC Clear IRS service to Dutch buy-side firms.
EurexOTC Clear for Interest Rate Swaps was launched on 13 November 2012. Eurex Clearing offers fully integrated clearing and collateralization of OTC transactions and listed derivatives in a single clearing house and under one legal framework. Eurex Clearing’s members and their clients benefit from capital efficiency via portfolio margining of listed and OTC transactions alike (cross-margining) as well as a wide range of eligible collateral compared to other CCPs. There are also a variety of segregation solutions, including an Individual Clearing Model that offers maximum protection of client assets and full portability of their positions and collateral.