Eurex Clearing Adds New Members to the Supervisory Board

The Supervisory Board of Eurex Clearing Clearing Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Read this Term, one of the largest clearing houses globally and part of Deutsche Börse Group, announced today the addition of three new members.

Tammo Diemer, managing director at the Federal Republic of Germany Finance Agency, will succeed Jutta Dönges.

Additionally, two new members were appointed based on the Eurex Clearing Partnership Program. The performance-based program grants the five most active financial institutions in the clearing of over-the-counter interest rate derivatives a seat on the Supervisory Board and thus a voice in corporate policy, Deutsche Börse revealed.

In the past two years these were: Commerzbank, Deutsche Bank, J.P. Morgan, LBBW and UniCredit. For the latter, Tong Lee, head of fixed income and currencies at UniCredit Group, will be a member of the board in future.

For Deutsche Bank, David Feldmann, head of capital markets Germany, Austria and Switzerland, will take over the mandate from Stefan Hoops, head of corporate bank. Raphaël Masgnaux of BNP Paribas leaves the board at the end of his term, according to the announcement.

Eurex Clearing Partnership Program

Eurex Clearing launched the program in 2018 to promote Euro Clearing in the EU-27. Besides the five Supervisory Board mandates, the ten most active participants will share in the earnings. In addition, they are involved in the strategic development of the company through a seat on the FIC Board Advisory Committee. Morgan Stanley will be a member of this advisory body for the first time.

Deutsche Börse stated that since its launch, the program has gained broad market acceptance with 40 market participants joining from the USA, Great Britain, Asia and Continental Europe.

In terms of outstanding volume, Eurex Clearing’s market share in clearing over-the-counter interest rate derivatives has risen from 2.8 percent at the beginning of 2018 to currently stand at 18 percent.