25 May 2017
Find out more

EuroCCP completes consolidation with EMCF

09 April 2014  |  1167 views  |  0 Source: EuroCCP

European Central Counterparty N.V. (EuroCCP) has completed the consolidation of its constituent businesses, EuroCCP Limited and EMCF N.V., creating the largest cash equities clearer in Europe.

Diana Chan, CEO of EuroCCP, said: "The migration of 20 Clearing Participants and six trading platforms within seven weeks illustrates the technical and operational ease with which access to platforms and interoperability can be implemented when parties collaborate."

The six platforms - Equiduct, GetMatched, NYSE Arca, Smartpool, Sigma X and UBS MTF - are now connected to EuroCCP and increase netting possibilities for Clearing Participants. The combination of EMCF and EuroCCP has provided Clearing Participants with overall annual savings in excess of EUR 10 million through reduced settlement costs, volume discounts on clearing fees and elimination of one set of connectivity and interoperability costs.

Diana Chan continued: "We are clearing for 16 trading platforms; this reach makes a positive difference to our clients' clearing related costs. For example, 50 per cent of their settlement costs have been cut where they previously needed to settle with two different CCPs."

Diana Chan added: "Our goal is to continue to help market participants drive down costs by securing access and clearing trades from more platforms."

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit vasco.com/news/PSD2-compliant-solutionsvisit www.events.sap.comvisit dh.com

Top topics

Most viewed Most shared
Google and PayPal partner for mobile shopping by fingerprintGoogle and PayPal partner for mobile shopp...
9122 views comments | 28 tweets | 28 linkedin
Banks must get on AI bandwagon now – new Finextra researchBanks must get on AI bandwagon now – new F...
9107 views comments | 22 tweets | 31 linkedin
Twins fool HSBC voice biometrics - BBCTwins fool HSBC voice biometrics - BBC
8897 views comments | 21 tweets | 24 linkedin
BBVA brings info and payments to social and messaging networksBBVA brings info and payments to social an...
6720 views comments | 11 tweets | 17 linkedin
UK SMEs missing out on £1.6bn by not accepting 'next gen' paymentsUK SMEs missing out on £1.6bn by not...
6607 views comments | 24 tweets | 18 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job