Bank J Van Breda & C° Selects ABN Amro for Clearing

ABN Amro Clearing is headquartered in Amsterdam, Netherlands.

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."

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