Deutsche Börse AG unit Eurex Clearing AG said Dec. 20 that the U.S. Commodity Futures Trading Commission will allow it to offer clearing services for swap transactions to clients of futures commission merchants domiciled in the U.S.

The clearing house has established a legal framework that complies with the Legally Segregated Operationally Commingled requirements, which will boost its ability to compete with the likes of the London Stock Exchange Group PLC and CME Group Inc.

"The U.S. is an important market for us, and the recognition of our Derivatives Clearing Organization license and associated LSOC model is very good news as we further expand our global distribution and are now able to serve clients of FCM clearing members," said Erik Müller, CEO of Eurex Clearing.

Citigroup Inc. is among the first banks to connect through the LSOC framework and serve Eurex new U.S. service, Eurex said.