European Commodity Clearing AG (ECC) has prolonged the existing contract regarding the use of clearing systems with Deutsche Börse Systems AG before its expiry. This contract safeguards the provision and operation of the Eurex system for clearing of exchange and over-the-counter derivatives transactions of EEX trading participants with a term until 2015.
Even though the existing contract still had a term of two years before it would expire, it was important for ECC to now establish security with regard to the maintenance of its systems landscape and, hence, long-term investment security for its participants and partners.
“Eurex is the leading, safest and most efficient platform for clearing of derivatives transactions in the global competition“, Dr Hans-Bernd Menzel, CEO of ECC AG, explains. “Moreover, this long-term commitment is also a sign of the trust which we place in our most important service provider.”
"We are glad about the continuation of our successful cooperation which is proof of our technological market leadership," added Dr. Michael Kuhn, CIO of Deutsche Börse AG and CEO of Deutsche Börse Systems AG.