Clear your Non-Deliverable Forwards (NDFs) at Eurex Clearing, the EU-based CCP. With Eurex Clearing, you're signed up for future-proof clearing services that provide safety and efficiency to the market.
NDF Clearing has been developed in close cooperation with buy- and sell-side partners, creating a Pan-European service that meets market demands and all regulatory requirements. As a service of Eurex Clearing, NDF Clearing provides exceptional margin, capital and operational efficiencies making Eurex Clearing the go-to CCP for EU market participants.
With phases 1-5 of UMR now in effect, the market focus now shifts to Phase 6, scheduled for September 2022. In the FX space, besides FX options, NDFs are the key product as they contribute to the overall AANA calculation. By centrally clearing these in-scope trades at Eurex Clearing, firms remove transactions from their AANA calculation, potentially removing them from the scope of UMR altogether.
NDF clearing at Eurex Clearing can provide unrivaled benefits:
UMR impacts many market participants such as asset managers, hedge funds, corporates and pension funds: With phases 1-6 of UMR now in effect, firms with an Average Aggregate Notional Amount (AANA) greater than EUR 8 billion are required to post initial margin bilaterally with their counterparts.
NDF clearing at a glance
NDF clearing is available for both inter-dealer and client trades for six currency pairs with cash settlement in USD*.
NDF clearing via 360T
Together, Eurex and 360T offer a unique solution to FX NDF clearing for buy-side participants, providing a dedicated “to-clear” price for cleared NDFs, along with pre-trade clearing certainty and straight through processing of trades direct from 360T to Eurex Clearing. Read more about the benefits of this feature:
NDF Clearing at Eurex via 360T
*Note: due to regulatory restrictions, Eurex Clearing AG is currently not able to offer NDF clearing services in the United Kingdom and the U.S. until further notice.