The extension of Eurex’s Partnership Program to the short-term interest rate (STIR) derivatives segment has garnered substantial interest. As of publication of this release, 18 participants from the U.S., the U.K., and Continental Europe have registered for the program. The STIR Partnership Program is planned to go live in the last week of October in conjunction with the product re-launch.

In June, Eurex announced the expansion of its Partnership Program for interest rate swaps to include the short-term interest rate (STIR) derivatives segment. The STIR Partnership Program will be accompanied by a new liquidity incentive program for liquidity providers for EURIBOR and Euro Short Term Rate (€STR) derivatives which will come into effect beginning of November.

Creating efficiencies around the euro yield curve and supporting the EU’s strategic autonomy agenda 

Together with major market participants, Eurex aims to create a viable alternative to trade and clear euro-denominated STIR derivatives within the EU. This step allows Eurex to offer liquidity across all fixed income derivatives and repo products along the entire euro yield curve traded on-exchange and OTC. For market participants this step offers the opportunity to benefit from margin and operational efficiencies building on the leading Eurex trading, clearing and risk management infrastructure.

It further demonstrates Eurex’s and the broader markets’ intention around supporting the European Commission’s systemic stability and strategic autonomy agenda.

Matthias Graulich, Member of the Eurex Clearing Executive Board: “We are excited to welcome these 17 participants to the STIR Partnership Program. This initiative will enable global clients to benefit from a comprehensive product offering including Eurex’s leading European government bond derivatives and repo segment as well as the clearing of OTC interest rate swaps. At the same time, it will further enhance Eurex’s value proposition by building out the Home of the Euro Yield Curve ambition for euro-denominated derivatives and repo, delivering efficiencies to a global client base.”

Source: Eurex