18 December 2017
visit www.ebaday.com

LSE adds EuroCCP as third clearing option

11 December 2014  |  3185 views  |  1 Source: London Stock Exchange

London Stock Exchange today announces that it will add European Central Counterparty N.V (EuroCCP) as a provider of CCP services to its SETS and SETSqx order books.

The move, which is subject to regulatory approval, is expected to take place in March 2015. EuroCCP will become the third provider of clearing services alongside LCH.Clearnet Ltd and SIX X-Clear. 

London Stock Exchange was one of the first trading venues to implement interoperability when it introduced competitive clearing for SETS in 2008. Since then it has remained firmly committed to driving efficiencies for its members across the trading cycle. In June 2014, London Stock Exchange successfully completed the migration of its post trade feed from Euroclear UK & Ireland (EUI) to central counterparties, bringing it in line with the model used by Multilateral Trading Facilities (MTFs). This has enabled members to derive benefits from cross venue netting, reducing the number of settlement obligations and ultimately fees.

Nicolas Bertrand, Head of Equity and Derivatives Markets, London Stock Exchange Group said: “The addition of EuroCCP as a third provider of clearing services for trades executed on London Stock Exchange’s main electronic order book reaffirms our commitment to offering choice to its members, helping to drive efficiencies across the trading cycle. London Stock Exchange first introduced interoperability between clearing providers back in 2008 and the expansion of this further confirms the Group’s unique position as a truly open-access infrastructure provider.”

Comments: (1)

Alan Jenkins
Alan Jenkins - Jenkins UK Limited - London | 12 December, 2014, 16:25

Great to see another milestone on the journey started by virt-x (SWX) in May 2003 !!

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.response.ncr.comvisit www.ebaday.comvisit www.aciworldwide.com

Top topics

Most viewed Most shared
satelliteRipple completes XRP Lockup
11287 views comments | 3 tweets | 3 linkedin
Banks tap Ethereum smart contracts for MiFID II complianceBanks tap Ethereum smart contracts for MiF...
10261 views comments | 21 tweets | 24 linkedin
Banks and fintech startups join forces on blockchain-based supply chain pilotBanks and fintech startups join forces on...
7791 views comments | 19 tweets | 22 linkedin
Digital banking startup Loot secures £2.2 million seed roundDigital banking startup Loot secures £...
7503 views comments | 5 tweets | 11 linkedin
Nordea takes Open APIs into live productionNordea takes Open APIs into live productio...
7433 views comments | 6 tweets | 26 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job