Eurex has launched the Trade Offset workflow, which helps users of cleared Interest Rate Swaps to optimize their portfolio by automating the close out process. The solution seamlessly connects Bloomberg’s electronic trading tools to the original Eurex trade record. Clients who need to close out a swap position at the Central Counterparty Clearing House (CCP) can retrieve their trade details by inputting the Eurex CCP ID into Bloomberg's trade register, TREG <GO>. The original swap details are then pulled directly from Eurex into this register. The exact offset of the original swap can then be sent to Bloomberg's List trading tool, BOLT IRS <GO>, for execution.
“We are happy to continue to build on our collaboration with Eurex Clearing to deliver improved connectivity and increased workflow efficiency to market participants. As clients’ usage of electronic trading increases, it is important that they can trust Bloomberg to source market interest and access deep pools of liquidity.”
Nicholas Bean, Global Head of Electronic Trading Solutions at Bloomberg
“We are proud to have been the first to use this new workflow. It has significantly streamlined our processes and enhanced our operational efficiency.”
Stefan Schmidt, CIIA, Multi-Asset Trading Desk at Union Investment
Eurex Clearing offers a liquid EU-based alternative to clear EUR-denominated interest rate swaps with high-quality execution prices.
Please reach out to your Eurex sales contact for further information.