Eurex expands clearing network to the US with INTL FC Stone

INTL FC Stone has become the first US-based member of Eurex’s clearing network.

Derivatives exchange operator Eurex has expanded its clearing network with the admittance of INTL FC Stone as its first US-based clearing member.

INTL FC Stone has joined Eurex’s clearing network as a General Clearing Member (GCM) for exchange listed derivatives. The launch of Eurex’s clearing memberships in the US allows eligible firms to clear their own and client accounts.

The exchange explained that this allows clearing members to better serve regional clients, to reduce costs by improving process efficiency and to more flexibly leverage their domestic capital base.

“Broadening direct central clearing counterparty (CCP) membership reduces the concentration risk inherent in fewer clearing service providers, an important contribution to the stability of the trading and clearing ecosystem,” said Matthias Graulich, member of the executive board of Eurex Clearing.

Eurex added that greater diversification of risks among clearing service providers is a recurring theme in the US, particularly in times of crisis. By expanding its network and clearing services to the US, Eurex concluded that it hopes to make a valuable contribution to US markets.