Trading

Twenty banks back Deutsche Börse’s euro-clearing play

German exchange is looking to challenge the LSE's dominance in the market for clearing interest-rate swaps

Twenty banks back Deutsche Börse’s euro-clearing play

Deutsche Börse has won the backing of around 20 major dealing banks for a new service aimed at challenging the London Stock Exchange's dominance in the market for clearing interest-rate swaps.

Eurex Clearing, which is owned by the German exchange group, said today that the banks — including Citigroup, HSBC, JPMorgan, Deutsche Bank and BBVA — had agreed to participate in a programme that sees it share revenues with its partners.

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