On Oct. 2, EUREX Clear issued discounting switch to DESTR for DKK.
EUREX Clear issued Readiness Newsflash announcing switch to Denmark Short-Term Rate (DESTR) discounting for cleared OTC derivatives denominated in DKK.
Key Points
In Apr. 2022, DESTR introduced as new overnight interest rate for Danish Krone.
DKK Tom/Next rate scheduled to be discontinued from Jan. 1, 2026, and so DESTR will remain the commonly accepted risk-free rate in the DKK market.
EurexOTC Clear will implement DESTR discounting from Nov. 22, 2025 and all OTC trades denominated in DKK will be priced using DESTR swap curve as discount curve.
Price Alignment Interest (PAI) for DKK trades in OTCClear is already based on DESTR fixings and therefore no cash compensation available for DKK trades on transition day.
