EMIR Compliance steers Germany to use Eurex for Derivatives clearing

The German government chose EurexOTC Clear to settle its future interest swap transactions in a boon for Frankfurt as the sovereign’s bond issuer seeks to benefit from new rules that require central clearing of derivatives.

The Federal Finance Agency GmbH will become a clearing member of the Deutsche Boerse AG platform in the fourth quarter, the Frankfurt-based debt management company said in an e-mailed statement on Monday. The step is tied to compliance with new rules dubbed EMIR and Germany’s goal to cut transaction costs while lowering operational risks, it said.

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