23 February 2017
visit dh.com

EuroCCP completes consolidation with EMCF

09 April 2014  |  1110 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 dh.com Visit Yelloco.co.uk

Top topics

Most viewed Most shared
IBM and Visa join forces to turn billions of connected devices into points of saleIBM and Visa join forces to turn billions...
19265 views 11 comments | 56 tweets | 92 linkedin
hands typing furiouslyBlockchain Technology
12461 views 1 | 12 tweets | 6 linkedin
EBA to relax controversial PSD2 authentication rulesEBA to relax controversial PSD2 authentica...
10949 views comments | 50 tweets | 68 linkedin
RBS to become fintech fund and high street outlet for challenger banks under HMT remedyRBS to become fintech fund and high street...
7888 views comments | 39 tweets | 33 linkedin
Standard Chartered connects corporate customers to WeChatStandard Chartered connects corporate cust...
6195 views comments | 17 tweets | 19 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job