Eurex’s STIR Partnership Program Attracts 18 Global Participants for Euro STIR Derivatives Expansion

Eurex’s STIR Partnership Program Attracts 18 Global Participants for Euro STIR Derivatives Expansion

(IN BRIEF) Eurex, a leading derivatives exchange, has garnered significant interest in its Short-Term Interest Rate (STIR) Partnership Program extension. As of now, 18 participants from the U.S., U.K., and Continental Europe have registered for the program. This expansion aims to offer a viable alternative for trading and clearing euro-denominated STIR derivatives within the EU, aligning with Eurex’s goal to provide liquidity across all fixed income derivatives and repo products along the entire euro yield curve. The program is set to launch in the last week of October, accompanied by a new liquidity incentive program for EURIBOR and Euro Short Term Rate (€STR) derivatives in November.

(PRESS RELEASE) FRANKFURT, 13-Sep-2023 — /EuropaWire/ — The extension of Eurex’s Partnership Program to the short-term interest rate (STIR) derivatives segment has garnered substantial interest. As of publication of this release, 18 participants from the U.S., the U.K., and Continental Europe have registered for the program. The STIR Partnership Program is planned to go live in the last week of October in conjunction with the product re-launch.

In June, Eurex announced the expansion of its Partnership Program for interest rate swaps to include the short-term interest rate (STIR) derivatives segment. The STIR Partnership Program will be accompanied by a new liquidity incentive program for liquidity providers for EURIBOR and Euro Short Term Rate (€STR) derivatives which will come into effect beginning of November.

Creating efficiencies around the euro yield curve and supporting the EU’s strategic autonomy agenda

Together with major market participants, Eurex aims to create a viable alternative to trade and clear euro-denominated STIR derivatives within the EU. This step allows Eurex to offer liquidity across all fixed income derivatives and repo products along the entire euro yield curve traded on-exchange and OTC. For market participants this step offers the opportunity to benefit from margin and operational efficiencies building on the leading Eurex trading, clearing and risk management infrastructure.

It further demonstrates Eurex’s and the broader markets’ intention around supporting the European Commission’s systemic stability and strategic autonomy agenda.

Matthias Graulich, Member of the Eurex Clearing Executive Board: “We are excited to welcome these 18 participants to the STIR Partnership Program. This initiative will enable global clients to benefit from a comprehensive product offering including Eurex’s leading European government bond derivatives and repo segment as well as the clearing of OTC interest rate swaps. At the same time, it will further enhance Eurex’s value proposition by building out the Home of the Euro Yield Curve ambition for euro-denominated derivatives and repo, delivering efficiencies to a global client base.”

About Eurex

Eurex is the leading European derivatives exchange and – with Eurex Clearing – one of the leading central counterparties globally. As architects of trusted markets characterized by market liquidity, efficiency, and integrity, we provide our customers with innovative solutions to seamlessly manage risk. For more information, visit www.eurex.com.

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SOURCE: Deutsche Börse Group