Eurex establishes direct connection to Bloomberg鈥檚 swap venues
19 February 2019 Frankfurt
Image: Shutterstock
Eurex Clearing and Bloomberg have extended their cooperation for interest rate swaps clearing.
The initiative means Bloomberg鈥檚 US-based swap execution facility (SEF) and UK multilateral trading facility (MTF) will now be connected to Eurex Clearing as approved trade sources.
According to Eurex, this will improve efficiency via straight-through processing, allowing market participants who are Eurex Clearing clients to submit their executed swap transactions directly through Bloomberg鈥檚 SEF or UK MTF to Eurex Clearing as the central counterparty.
Following recent authorisation to operate an MTF in the Netherlands, Bloomberg will also look to provide connectivity to Eurex Clearing for its Dutch MTF.
Bloomberg was the first to offer direct connectivity to Eurex for its over-the-counter trading services in 2016 and is now extending this link to Eurex Clearing from its regulated execution venues.
Nicholas Bean, head of electronic trading solutions at Bloomberg, said: 鈥淥ur expanded connectivity to Eurex Clearing delivers a more streamlined workflow to the entire swaps trading process on Bloomberg.鈥�
鈥淲e will continue to provide a venue for clients globally to access broad liquidity while leveraging the efficiencies of electronic execution.鈥�
The initiative means Bloomberg鈥檚 US-based swap execution facility (SEF) and UK multilateral trading facility (MTF) will now be connected to Eurex Clearing as approved trade sources.
According to Eurex, this will improve efficiency via straight-through processing, allowing market participants who are Eurex Clearing clients to submit their executed swap transactions directly through Bloomberg鈥檚 SEF or UK MTF to Eurex Clearing as the central counterparty.
Following recent authorisation to operate an MTF in the Netherlands, Bloomberg will also look to provide connectivity to Eurex Clearing for its Dutch MTF.
Bloomberg was the first to offer direct connectivity to Eurex for its over-the-counter trading services in 2016 and is now extending this link to Eurex Clearing from its regulated execution venues.
Nicholas Bean, head of electronic trading solutions at Bloomberg, said: 鈥淥ur expanded connectivity to Eurex Clearing delivers a more streamlined workflow to the entire swaps trading process on Bloomberg.鈥�
鈥淲e will continue to provide a venue for clients globally to access broad liquidity while leveraging the efficiencies of electronic execution.鈥�
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