Eurex US, the fledgling US arm of the Swiss-German derivatives exchange, launched the first-ever transatlantic clearing link on Wednesday, just days after receiving regulatory approval from North American authorities.

The link is a crucial part of Eurex US's plan to win more volume in the derivatives products currently traded at rival exchange, the Chicago Board of Trade. It will allow the exchange to combine clearing for its US and European exchanges thereby making it cheaper for US traders who use both exchanges to clear and settle their trades.