Bank of America Merrill Lynch will be a participant on the GMEX Exchange when it launches on Friday.

 The bank says it will offer execution and clearing services for GMEX products to its client base.



The initial products traded will be GMEX’s pioneering Interest Rate Swap Constant Maturity Futures (“IRS CMF”) contracts, backed by Eurex, which bring the benefits of futures trading closer to OTC products, while delivering the efficiencies of centralised order execution, standardised central clearing and hedging of interest rate exposure.


Bank of America Merrill Lynch says it will provide clearing, execution and settlement services for the IRS CMF contract in the same way as their other Eurex derivatives contracts, acting as a general clearing member through its membership of Eurex Clearing.



Russia's National Settlement Depository (NSD), the country’s central securities depository, says it has implemented back-to-back settlements technology for off-exchange DVP (delivery versus payment) transactions. Trading bank accounts and transactions may be in Russian rubles, US dollars, euro, or yuan.

Clearstream reports that the overall value of assets under custody held on behalf of customers registered an increase of 8 percent to EUR 13.2 trillion (compared to EUR 12.2 trillion in August 2014). 

Euroclear Bank has opened an account with Hong Kong’s Central Securities Depositary, the Central Moneymarkets Unit (CMU).

Eurex Clearing reports that it has admitted another major participant to EurexOTC Clear – the German Bund, represented by the Bundesrepublik Deutschland – Finanzagentur GmbH (the Federal Republic of Germany – Finance Agency).

Italy's Monte Titoli and its clients have successfully completed the migration to the European Central Bank’s Target2-Securities (T2S) platform, postponed to August 31 from June 22 when the first wave of implementation began, the London Stock Exchange Group (LSEG) reports.

The Johannesburg Stock Exchange (JSE), Africa's largest exchange, says it has officially launched JSE Eris Interest Rate Swap (IRS) Futures, based on the Johannesburg Interbank Agreed Rate (JIBAR) and denominated in South African Rand (ZAR).