Integrating euro swaps and repos for more efficiencies
EurexOTC Clear

Eurex Clearing service offering for Pension Scheme Arrangements

As their clearing exemption expired in June 2023, EU-domiciled pension funds need to be able to access at least one CCP for their OTC IRD Clearing strategy. In addition, UMR 6 has a significant impact in terms of legal, operational and technological resources and costs. Adopting Eurex Clearing’s integrated service offering can reduce these impacts.

As a multi-asset CCP, Eurex Clearing can help pension funds optimize their access to cleared derivatives. Eurex Clearing enables clients to combine interest rate swaps, inflation swaps and exchange-traded derivatives into a single account. When clearing new interest rate swaps, pension funds can benefit from Eurex Clearing’s deep euro liquidity pool. Legacy positions can be selected for clearing to benefit from portfolio margining offsets.

Participants can achieve significantly reduced costs when margins are funded through the Eurex Repo platform using the broad collateral range. Complimented with best execution, this leads to enhanced returns to end investors.  

Having access to Eurex’s liquid and centrally cleared repo markets enables clients to safely invest cash or raise short-term funding with more than 150 Eurex Repo trading participants, all under a standardized legal agreement, with straight-through processing and no need for bilateral credit lines.

Key benefits at a glance

Efficiency gains

  • Reduce gross risk exposures through netting
  • Reduce margin requirements through portfolio margining along the euro yield curve
  • Reduce funding costs

Workflow optimization

  • Reduce counterparties via central clearing
  • Lower operational complexity
  • Lower collateral costs due to reduced number of daily transfers

Regulatory compliance

  • Future-proof your regulatory clearing obligations
  • Optimize UMR-based margin requirements

EurexOTC Clear

Eurex Clearing offers a liquid EU-based alternative to clear EUR-denominated interest rate derivatives. Benefit from high-quality execution prices, a robust risk management framework, operational and capital efficiencies and risk reduction.

ISA Direct: safe access

The buy side benefits! ISA Direct combines elements of direct and traditional client clearing. It provides the buy side with a variety of mandatory and optional service functions. With ISA Direct, the buy side has direct membership facilitated by the Clearing Agent. The Clearing Agent covers the default fund contribution while the member maintains the legal and beneficial collateral ownership.

Don't mind the gap

Our Repo markets bridge liquidity gaps.


FIC Derivatives & Repo Sales