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Eurex Clearing is set to introduce a settled-to-market model for over-the-counter interest rate swaps transactions.
The clearing house was certified by the US futures regulator to amend its rulebook to allow for the change. Under current rules, Eurex Clearing allows over-the-counter (OTC) interest rate swaps clearing members to use a collateralised-to-market contract model, which treats variation margin payments as collateral.
With...