Deutsche Boerse says about 20 banks join its clearing programme
Reuters
Published Nov 20, 2017 14:49
Deutsche Boerse says about 20 banks join its clearing programme
FRANKFURT (Reuters) - About 20 banks have signed up to Deutsche Boerse's (DE:DB1Gn) 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 (L:LSE) 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 (NYSE:BAC) Merrill Lynch, BBVA (MC:BBVA), Citi, Commerzbank (DE:CBKG), Deutsche Bank (DE:DBKGn), HSBC, JP Morgan and Morgan Stanley (NYSE:MS).
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.
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Written By: Reuters
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