Belgium-based Bank J.Van Breda & C° has selected ABN Amro Clearing as its general clearing counterparty for over-the-counter (OTC) derivative transactions.
The move was prompted by obligations stemming from the European Market Infrastructure Regulation, which require certain contracts such as interest-rate swaps to be centrally cleared.
"We remain committed to the delivery of central clearing solutions for interest-rate swaps at a time when many service providers are pulling out," says Alexander Jacobs, global product manager, OTC derivatives at ABN Amro Clearing. "This new relationship with Bank J Van Breda & C° underlines our capacity to service financial institutions in the Benelux [region] with innovative clearing solutions."
Jesse Lund talks about real uses for DLT in the capital markets, lessons learned while rolling out IBM's blockchain platform, and what’s ahead for 2018, and into 2019.Subscribe to Weekly Wrap emails