Singapore-based United Overseas Bank (UOB) has become the first Asian member to join Eurex Clearing.
The bank is now able to provide clearing capabilities to Asian and international Eurex trading members.
“UOB’s Eurex Clearing membership complements the derivative trading services that UOBBF provides on the Eurex Exchange," says Terence Ong, head of global markets and investment management at UOB and the Chairman of UOB Bullion and Futures. "Our dual membership allows us to offer our clients one-stop broking and clearing solutions that provide lower associated risks and greater peace of mind.”
Operated by Deutsche Börse, in 2012 Eurex Clearing received regulatory non-objection from the domestic regulator, the Monetary Authority of Singapore, to admit remote clearing members from Singapore.
UOB Bullion and Futures, the bank’s derivatives arm, has been a trading member of Eurex since 2008.
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