Board of Trade Clearing Corp to clear for Eurex in US

Eurex, the Swiss-German derivatives exchange has moved a step closer to its debut in the US market by signing a partnership deal with its US clearer, the Board of Trade Clearing Corporation, (BOTCC).

The deal, which was reached late Wednesday night, will also see Eurex take a 15% stake worth $15m (€13.8m) in the BOTCC and assume a seat on its board. Under the terms of the agreement Eurex will be able to increase its stake to a maximum of 51% in case of an outside bidder seeking control of the BOTCC.

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