Eurex clears first €STR trades, set sights on discount switch

Euro Puzzle Fotolia 230x150
By GlobalCapital
18 Nov 2019

Eurex Clearing has cleared its first swaps trades referencing European regulators’ choice of replacement short-term reference rate, €STR.

BNP Paribas, Citi, Deutsche Bank, JP Morgan, LBBW, Morgan Stanley, Nordea and UniCredit were among the first market participants to trade swaps referencing €STR at Eurex.

Achieving the milestone now puts Eurex on the path to introducing more Ibor replacement products and €STR discounting.

“The next step will ...

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