EuroCCP offers interoperability for clearing on Bats Europe and UBS MTF

EuroCCP, the pan-European cash equities clearing house, today received authorisation from the UK's Financial Services Authority to clear under interoperable arrangements for BATS Europe and UBS MTF.

  0 Be the first to comment

External

This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.

Commenting on the announcement, Diana Chan, CEO, EuroCCP said, "The approval from the FSA is the final step towards making interoperability a reality. EuroCCP has been a long-term supporter of interoperability as it will enable clients to benefit from greater choice of clearing venues and lower clearing and trading costs."

Following the FSA authorisation, EuroCCP's Preferred Interoperable Clearing Service will go live on Friday 29 July. The service will be launched by BATS Europe whereby trading firms can elect a preferred CCP to clear their trades.
Under the new Preferred Interoperable Clearing Service, if trading firms on both sides of a trade have selected a preferred CCP, then each side will be cleared by the respective CCP the firm has chosen.

The approval of interoperable arrangements for UBS MTF means that firms trading on UBS MTF will be able to choose EuroCCP to clear their trades as it now interoperates with the incumbent CCP.

Sponsored [On-Demand Webinar] The final countdown: What’s next for Verification Of Payee?

Comments: (0)

[Webinar] PaaS, Cloud and Instant Payments in the Spotlight: Overcoming Outsourcing ChallengesFinextra Promoted[On-Demand Webinar] PaaS, Cloud and Instant Payments in the Spotlight: Overcoming Outsourcing Challenges