Euronext.liffe to launch clearing service for wholesale derivatives

Euronext.liffe to launch clearing service for wholesale derivatives

Euronext.liffe, the international derivatives business of Euronext, is launching Bclear, a new 'on-exchange' clearing service for the wholesale equity derivatives market.

Euronext.liffe says Bclear is a Web-based, on-exchange administration and clearing service that will provide a simple way to register and process wholesale trades through Euronext.liffe to clearing at LCH.Clearnet, reducing the counter-party credit, legal and operational risks associated with off-exchange deals.

The service will be launched on 24th October.

At the same time, Euronext.liffe will go live with an automated straight-through processing (STP) link between Bclear and Cscreen, the pre-trade price discovery platform it acquired by in April.

Commenting on the service, Hugh Freedberg, chief executive, Euronext.liffe, says: "Bclear provides a low cost way of booking and managing large equity derivative positions without the operational, credit and legal risks traditionally associated with transacting such business in the OTC market."

The exchange says it will introduce its Afirm service later this year, which is geared towards providing operational efficiency for equity derivatives business conducted 'off-exchange'. Afirm will also be linked into Cscreen to enable customers to choose whether to conduct business on- or off-exchange.

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