21 October 2017
Find out more

EuroCCP to begin clearing exchange-traded currencies

03 February 2010  |  1696 views  |  0 Source: EuroCCP

EuroCCP today announced that on Friday, the 5th of February, it will launch clearing services for European-listed Exchange-Traded Currencies (Currency ETCs), continuing to extend to new instruments the efficiency, cost-saving and counterparty risk protection benefits it currently provides to clients' equity and Depositary Receipts transactions.

Turquoise will be the first multilateral trading facility (MTF) to offer trading in Currency ETCs cleared through EuroCCP.

Currency ETCs are liquid securities traded on exchange that track the performance of underlying currency indices. EuroCCP initially will clear 18 Currency ETCs, which provide long or short passive exposure to the currencies of G-10 countries versus the US dollar. To view the list of EuroCCP-clearable Currency ETCs, please go to www.euroccp.co.uk.

"EuroCCP is pleased to extend our clearing services to support the trading of Currency ETCs. By providing a safe post-trade environment, we believe this service offering will encourage liquidity," said Andrew Simpson, head of EuroCCP Product Management in London. "Our ETCs clearing service responds to investor demand for liquid, secure and transparent exchange-traded securities and also reflects increased investor appetite for foreign exchange instruments."

Adrian Farnham, Chief Operating Officer at Turquoise, commented: "Currency ETCs are presenting the European market with new trading opportunities. Turquoise is delighted to provide highly efficient access to such an expanding market, along with the competitive pricing schedule and robust technology that the Turquoise MTF already offers for equities and depositary receipts."

Listed in both USD and GBP, ETC transactions cleared through EuroCCP will settle in CREST.

ETCs trade on a regulated exchange, just as an equity is traded. An issuer creates (and redeems) the ETC security with the assistance of an Authorised Participant/Market Maker, and each ETC is assigned an ISIN when listed on exchange.

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
Register nowvisit www.innotribe.com

Top topics

Most viewed Most shared
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
9862 views comments | 22 tweets | 26 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8927 views comments | 13 tweets | 10 linkedin
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
8560 views comments | 16 tweets | 19 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
8019 views comments | 9 tweets | 17 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
7668 views comments | 10 tweets | 22 linkedin

Featured job

Competitive base, commission, benefits
London, UK

Find your next job