Bayerische Landesbank (BayernLB), one of Germany's largest regional banks, has joined the EurexOTC Clear service as a clearing member for interest-rate swaps.
The bank has joined the central counterparty ahead of clearing obligations in the European Market Infrastructure Regulation (EMIR), due to come into force in early 2014.
"We are delighted that we have been able to make the connection to EurexOTC Clear successfully and in a timely manner," says Oliver Dressler, head of treasury products at BayernLB. "From now on, our clients can use Eurex's fully integrated clearing offering in conjunction with our expertise. The clearing connection to EurexOTC Clear means we are optimally prepared for the upcoming EMIR obligations."
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