Press

Eurex Clearing, Europe’s largest clearing house, today announced that Eurex Credit Clear, its European OTC clearing solution for credit default swaps (CDS), received the Technology Innovation Award from Credit magazine, a leading specialist publication for the fixed income markets. Eurex Credit Clear has been offering clearing and risk management for OTC traded index and single name CDS since 30 July 2009.

Credit magazine's Technology Innovation Award winners were selected by the publication after extensive consultations with credit market participants and the strong participation of buy-side firms. According to the November issue of Credit magazine, "the awards are given to firms who have demonstrated innovation in creating new products or services that provide a clear benefit to participants in the credit market."

Eurex Credit Clear has a distinguished service offering as it operates the only CCP for both index and single name CDS worldwide. Additionally, it is the only CDS CCP currently accessible for both sell-side and buy-side firms.

Thomas Book, member of the Eurex Executive Board and responsible for clearing, said: “We are very honored to be awarded from one of the leading publications in the credit sector. We regard this Award as recognition of our clearing services’ quality as well as an incentive to further enhance our risk management’s excellence.”