21 March 2018
visit www.ebaday.com

SIX x-clear to offer competitive clearing for Quote MTF

24 August 2009  |  1568 views  |  0 Source: SIX x-clear

In a further boost for interoperability, SIX x-clear Ltd, the Central Counterparty (CCP) and licensed Swiss bank, and Quote MTF Ltd., the pan-European multi-lateral trading facility (MTF), today announced an agreement to offer competitive clearing services for all trades conducted on the Quote MTF platform.

The move will provide a competitive clearing environment for QUOTE MTF's equity trade flows as it adopts a dual CCP model which allows customers to select the CCP of their choice. SIX x-clear will provide customers with benefits in netting, collateral management, margining and settlement in all stock that are traded on QUOTE MTF.

This development follows the co-operation first announced in February 2009 where EMCF, QUOTE MTF's incumbent CCP, and SIX x-clear outlined their commitment to offer competitive-clearing services under the multiple CCP model to any of the exchanges or platforms they work with.

Marco Strimer, CEO of SIX x-clear, commented: "Offering clearing services and supporting QUOTE MTF is another important step in our market coverage and will provide clients with clearing choice at a wider number of venues. We look forward to working closely with QUOTE MTF and are pleased to see that another market is embracing the healthy competition that the dual CCP model provides."

Tamas Madlena, CEO of QUOTE MTF, commented: "QUOTE MTF will go live on 4 September so SIX x-clear will service our customers almost from the start. For QUOTE MTF - being a "no-frills" trading venue - industry standards and market efficiencies are essential. We are strongly committed to driving efficiencies across the market and passing on benefits to our clients. We look forward to working with SIX x-clear and feel certain our subscribers will value the choice of CCPs."

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
Visit www.facebook.com/business/Visit http://info.nice.comVisit www.nextgenbanking.co.uk

Top topics

Most viewed Most shared
hands typing furiouslyBitcoin at 50,000 USD?
11473 views 0 | 5 tweets | 4 linkedin
Can banks be a threat to Big Tech?Can banks be a threat to Big Tech?
10188 views comments | 29 tweets | 39 linkedin
Indian fintech sector needs regulatory support to flourishIndian fintech sector needs regulatory sup...
9604 views comments | 10 tweets | 8 linkedin
Barclays partners seven watch brands for contactless timepiecesBarclays partners seven watch brands for c...
8869 views comments | 14 tweets | 28 linkedin
BBVA tests 'invisible payments' technology at inhouse cafeBBVA tests 'invisible payments' technology...
8733 views comments | 13 tweets | 28 linkedin

Featured job

Basic c. EUR 90K OTE c. EUR 180K plus full bene...
Paris (preferred) or London

Find your next job