Virt-x introduces pan-European CCP

Virt-x introduces pan-European CCP

The new pan-European central counterparty service for transactions conducted over the virt-x exchange cleared more than 28,000 trades by market close on its first day of operation yesterday.

The structure, which supports two interlinked CCPs provided by the London Clearing House and SWX Swiss Exchange's x-clear, offers improvements in risk management, optional settlement netting and post trade anonymity.

Settlement of virt-x trades is offered by CrestCo, Euroclear Bank and SIS.

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