In light of the EMIR 3.0 Active Account requirement announced by the European Commission, whereby market participants are required to open active accounts at a European CCP for the clearing of EUR denominated Interest Rate Swap (IRS) trades, SIX (through the Spanish CCP, BME Clearing) is extending its offering to encompass the support multi-currency swaps .
The extension to scope includes the support of clearing of IRS in six new underlying currencies to include USD, SEK, NOK, CHF, DKK and GBP.
SIX will continue to provide clearing services for EUR denominated IRS in addition to the afore mentioned currencies and may consider a further extension to scope to support additional currencies at a later date.
José Manuel Ortiz-Repiso, Head Clearing & Repo Ops.:
“SIX…
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