Effective today, European Multilateral Clearing Facility N.V. (EMCF) will provide clearing services for Turquoise, Europe's fastest growing pan-European trading platform.
EMCF joins EuroCCP, LCH.Clearnet and SIX x-clear in providing a wide choice of clearing options to Turquoise members for trading on its pan-European equities platform. EMCF has secured an initial customer and expects to register further participants over the coming days and weeks.Participants can now choose, on a market by market basis, which Central Counterparty (CCP) to use to clear their business. This facilitates efficient cross-market netting opportunities for those able to consolidate their clearing business with one CCP and lowers the end-to-end cost of trading for investors.
Adrian Farnham, CEO at Turquoise said: "Turquoise is leading the way in giving customers access to a choice of clearing provider. We were the first platform to offer the flexibility to select separate clearing houses for trading in different countries. Bringing EMCF on-board further underlines our commitment to innovation and the development of a competitive, customer-focused post trade landscape."
Jan Booij, CEO for EMCF said: "We are delighted that Turquoise has decided to give customers the ability to use EMCF. This will reduce the cost of trading and we expect both customers and Turquoise to benefit from the EMCF advantage."
to $120k base ($250k OTE including commission), be...Boston, MA (USA)
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