Eurex Gains Regulatory Nod for Asia Clearer

Deutsche Börse subsidiary will expand to Singapore.

singapore-city-sunset

Deutsche Börse has received "in principle" regulatory approval from the Monetary Authority of Singapore (MAS) to establish a clearing house in the Asian state through its subsidiary Eurex.

Expected to commence operations in 2016, Eurex Clearing Asia will provide clearing services during local market hours for the region. The exchange operator will also seek mutual recognition for the entity from the European Securities and Markets Authority, allowing European market participants access to Asian clearing services.

"This is a further important milestone in the Asian growth strategy of Deutsche Börse Group," says Andreas Preuss, deputy CEO of Deutsche Börse and CEO of Eurex. "Eurex Clearing Asia will generate new and interesting business opportunities for our customers, and we are becoming an integral part of the financial center of Singapore. We aim to contribute to its further development and internationalization and look forward to cooperating with MAS and our business partners."

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