Interest rate derivatives clearing

To increase transparency and security in over-the-counter (OTC) derivatives markets, standardized OTC derivatives must be settled via central counterparties and reported to trade repositories, in compliance with the regulatory requirements of EMIR and Dodd-Frank.
  • Access to major European clearing houses LCH Ltd and Eurex Clearing AG
  • Analysis of client portfolios
  • Portfolio transfers and transaction netting

Full service for your derivatives transactions

Providing full-service legal, project, and technical support for straightforward integration into your current systems and processes.

Benefit from real-time collateral management, trade reporting, and customised reports, executed at the times you specify, and delivered via SFTP in various formats, including Excel, CSV, and PDF.

A specialised OTC clearing team ensures reliable compliance with regulatory requirements, with minimal impact on your business activities, internal resources, and infrastructure.

Different stages in the life of a cleared derivative trade

Trade execution

  • Execution can be with or away from Commerzbank.
  • Execution can be via voice or electronic affirmation.

Trade affirmation

  • Following trade execution, the trade will be entered into affirmatio platform of choice.
  • Clients will need to allocate trades and assign a clearing broker.

Commerzbank Clearing Broker

  • Commerzbank as clearing member will receive the trade and process it for clearing.
  • The CCP will then accept the trade for clearing.
  • If the CCP rejects the trade from clearing, then the trade falls back and is governed by the execution agreement.

Daily margining

  • Once a trade is cleared, Commerzbank will absorb any intraday margin call if applicable and issue a single margin call on T+1.
  • Commerzbank has developed a market-leading web platform for real-time reporting and margin calls with customizable reports.

Your contact

Interest Rates, Currencies & Commodities Trading (IRCCT)Sales – Custody & Clearing

Client clearing: your benefits

Preserves equity

Lower risk weightings can be applied when clearing derivatives transactions via central counterparties, which preserves equity.

Increases protection

Cleared derivatives and associated collateral are segregated from other clients and the clearing member, providing you with a higher level of protection in the event of a counterparty default.

Gaining access to clearing in three steps

Step 1

Get in touch. For example by filling out and sending us the request for proposal.

Step 2

If our review yields a positive result, we will send you a formal offer with all information and documents required for your admission to the clearing service (Segregation Information EMIR, fee schedule, onboarding manual).

Step 3

In this last step, we will (i) discuss all outstanding functional and technical questions regarding clearing access in detail, and (ii) set up the technical infrastructure.