Eurex Clearing has connected Bloomberg as an approved trade source for EurexOTC Clear, the interest rate swaps clearing offering of Deutsche Börse.
The direct connectivity enables Bloomberg’s large sell- and buy-side community to benefit from straight through processing (STP) of their OTC transactions, reducing time to market and providing a valuable improvement for the whole industry.
Said Nicholas Bean, global head, fixed income electronic trading product at Bloomberg: “Bloomberg’s offering in the IRS swaps electronic trading market is further strengthened by our direct clearing connectivity to Eurex OTC Clear. This service, which Bloomberg is the first to offer, creates significant workflow and execution efficiencies to the shared clients of Bloomberg and EurexOTC Clear. We look forward to working closely with Eurex Clearing as the clearing mandate in Europe approaches.”