Eurex Clearing AG, part of German exchange group Deutsche Börse AG, launched a central counterparty incentive program to switch clearing in over-the-counter interest rate derivatives positions, to support market participants in their Brexit preparation plans.
The clearing house said it will provide a 100% waiver on booking fees for portfolio switches in OTC derivatives until 2019-end.
Eurex Clearing executive board member Matthias Graulich said the incentive program will allow clients to migrate positions into the European Union.
Regulators and central banks have called on market players to prepare for all possible scenarios for Brexit and reiterated that the EU's temporary measures for CCPs expire March 2020.
