EurexOTC Clear has signed up HSBC France as its latest clearing member for interest rate swaps clearing service.
HSBC France is now connected as a direct clearing member, and has already cleared its first transactions via EurexOTC Clear.
The bank joins approximately 50 existing clearing members and 80 buy-side firms that are already connected to the service.
“We are delighted that HSBC France has decided to also use our OTC clearing service for its interest rate swaps business. Our offering helps to ease the rising costs of regulation by benefitting from margin, capital and collateral efficiency,” says Matthias Graulich, chief client officer, Eurex Clearing.