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The power of direct clearing access for the buy side.

Direct Clearing membership for the buy side

Our ISA Direct model combines elements of a direct clearing membership and the traditional service relationship in client clearing - tailored specifically for the buy side. It opens up a new principal client relationship between buy side clients and the CCP, with the regular Clearing Member acting as a Clearing Agent, providing a variety of mandatory and optional service functions. With ISA Direct the buy side can clear OTC IRS and repo.
 

Key features

  • Direct buy-side membership via a Clearing Agent
  • The Clearing Agent covers the default fund contribution & default management obligation
  • The member maintains legal and beneficial collateral ownership 
  • Reduced capital requirements
  • Improved buy-side conditions versus bilateral arrangements
  • Enhanced segregation & portability
  • Direct CCP access for cleared Repo, providing a larger liquidity pool

Your benefits at a glance

  • Higher capacity: Profit from high capital efficiencies and larger liquidity pools
  • Lower risk: Benefit from a strong risk management framework
  • Better economics: Profit from improved conditions
  • Increased balance sheet capacity: gain direct access to centrally cleared Repo and OTC IRS markets enabling you to directly raise cash and increase your balance sheet. As this is all done within the same ecosystem where the initial and variation margins are posted for other transactions, settlement failures and settlement fees are also reduced. 


Webcast Replay: Direct CCP clearing for OTC IRS & Repo at Swiss Life & PGGM

Our recently held webcast was a perfect opportunity to directly learn from experts. The experts gave comprehensive insights on why they chose ISA Direct for their company, challenges and first benefits.
Watch now

Latest videos

Video: Explaining ISA Direct for Repo

Eurex's ISA-Direct gives institutional investors direct access to centrally cleared repo markets, allowing them to interact with more than 160 counterparties. Watch our video to discover the benefits our buy-side tailored solution can provide by offering you direct access to the centrally cleared repo market.

Watch more videos on ISA Direct here.


Buy-side opportunities in central clearing

In this video Matthias Graulich, Member of the Eurex Clearing Executive Board, discusses the risk management challenges for the buy side in the face of changing regulatory requirements and today’s low interest rate environment, and how a new breed of solutions is helping firms access the cleared repo market for more efficient cash management. Risk.net has conducted this video interview. It was published first on Risk.net.

Advantages of ISA Direct

Swiss Life Asset Managers uses Eurex Clearing’s direct CCP access to clear OTC IRS with ABN AMRO Clearing acting as the Clearing Agent. In this video, experts from the participating firms explain the benefits from their point of view.


"ISA Direct alleviates the regulatory requirement to centrally cleared OTC derivatives in several ways. By enabling us to become a direct member of the CCP, our concerns regarding counterparty credit risks, clearing costs and portability of our assets are much better addressed compared to the traditional client clearing model."

Swiss Life Switzerland
 

Contact us

Fixed Income, Funding & Financing Sales

Frankfurt

T +49-69-211-138 59

London

T +44-20-78 62-72 76 

FixedIncome.Sales@eurex.com

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