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."
While at Sibos Toronto, James shares some interviews covering topics on blockchain, fintechs and cybersecurity.Subscribe to Weekly Wrap emails