Burgundy, the Nordic exchange, and EuroCCP, the pan-European cash equities clearing house, announce that from today EuroCCP is to provide interoperable Central Counterparty (CCP) clearing to Burgundy.
Burgundy is now the first trading venue in the region to offer multilateral interoperable CCP clearing.
Diana Chan, CEO of EuroCCP, said: "Our partnership with Burgundy marks another step to ensuring genuine competition exists in the clearing of Nordic securities. Today's announcement is particularly significant for the Nordics as Burgundy is introducing effective clearing choice with multiple CCPs in the region."
Olof Neiglick, CEO of Burgundy, said: "We have listened to our customers who told us they wanted to be able to choose who they clear with. We expect interoperable clearing to push down overall clearing costs, which is great news for all equity traders operating in the Nordics."
In May Burgundy announced it was offering interoperable clearing with SIX x-clear and is now the first venue in the Nordics to offer choice in the increasingly important post-trade landscape.