Five battle for euro swaps clearing
Nasdaq aims to be regional hub, while BME seeks broader slice of ‘active accounts’ pie
Euro interest rate swap traders are suddenly spoilt for choice when it comes to where they can clear their trades, after Nasdaq became the fifth venue to begin clearing the instruments on June 10.
The central counterparty (CCP) joins Madrid-based BME Clearing, owned by Swiss exchange group SIX, in its bid to offer an alternative to Frankfurt’s Eurex as European Union regulators usher a larger portion of the €190 trillion ($205 trillion) market onshore.
Despite long-running gripes around liquidity
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