The new service, whose phased roll-out will commence in November 2011, will cover European markets for loans in equities, ETFs and fixed income securities.
Eurex Clearing said it has designed the new CCP service for securities lending in cooperation with key market participants.
A core element of the concept is a specific member license for lending participants that enables beneficial owners to participate as clearing members of Eurex Clearing without any margin obligation whereas agent lenders can maintain their current role.
Thomas Book, member of the Eurex Executive Board and responsible for clearing, said Eurex Clearing is the first clearing house to incorporate the special structure of the securities lending market into a CCP model allowing cash and non-cash collateral as well as providing automated trade flow and loan lifecycle management.
