Eurex clearing link faces fresh hurdles

The transatlantic clearing link between The Clearing Corporation (TCC) and Eurex Clearing has been criticised in comment letters from the Chicago exchanges. It also became clear that Eurex Clearing will be required to become a US registered clearinghouse for the link to be fully implemented.

The clearing link, which is planned for launch this month, was challenged in comment letters to Commodity Futures Trading Commission (CFTC) over plans for holding accounts in segregated funds, and in its margin offsets. Both Chicago Board of Trade (CBoT) and Chicago Mercantile Exchange (CME) argued in separate comment letters that the TCC-Eurex proposal erroneously compares its link with...