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Nordbank Hires Morgan Stanley As Clearer
Commercial bank HSH Nordbank has appointed derivatives trading and clearing provider Morgan Stanley as a clearing broker.
Commercial bankHSH Nordbankhas appointed derivatives trading and clearing providerMorgan Stanleyas a clearing broker. The first trade under the agreement has already been cleared. Morgan Stanley will clear HSH Nordbank’s interest rate swap business throughLCH.Clearnet(LCH).
The alliance secures market access at all times and Nordbank will be well positioned for future regulatory requirements. Morgan Stanley has recently cleared some of the first over-the-counter (OTC) interest rate swap deals through LCH’s SwapClear Futures Commision Merchant (FCM) service for U.S. clients.
Click here for the release fromMorgan Stanley.