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Turquoise adds EMCF as clearing option

11 April 2012  |  1751 views  |  1 Source: European Multilateral Clearing Facility

European Multilateral Clearing Facility N.V. (EMCF), Europe's largest cash equity CCP, announced today it is to provide interoperable clearing services to Turquoise, the pan-European equities and derivatives trading platform.

Clients can now choose EMCF as their CCP (central counter party clearing house) of choice and benefit from the lowest costs in the industry. The decision by Turquoise to admit EMCF marks a significant step towards full interoperability within European trading platforms.

The decision enables:

• EMCF's customers to consolidate their cash equity clearing flow across all the major European MTFs (and Nasdaq OMX), bringing risk management, settlement and tariff benefits; and
• Lower total costs of trading on Turquoise for EMCF customers, giving Turquoise the opportunity to grow volumes from existing and new participants.

"We're pleased Turquoise has signed up to full interoperability with EMCF, we hope this will be first of many more platforms that looks to offer its customers the EMCF advantage," said Chief Executive Officer Jan Booij.

Adrian Farnham, Chief Executive of Turquoise, said: "We are delighted to be able to offer Turquoise clients the chance to clear with EMCF and we are pleased to be taking this further step towards wide-spread interoperability in Europe." 

Comments: (1)

Alan Jenkins
Alan Jenkins - Jenkins UK Limited - London | 12 April, 2012, 09:19

Nine years next month since virt-x (SWX Europe) started this snowball, and now at last it's gathering pace...

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