The process of moving the securities lending market to central counterparty (CCP) clearing has taken a step forward, as Eurex has agreed to cooperate with Quadriserv, a US firm that provides securities lending services.
Eurex was already planning to launch a clearing service for securities lending with Clearstream Banking Luxembourg in the second quarter of 2009. This will now provide CCP clearing and settlement of European equities for Quadriserv’s new securities lending platform, AQS.