Omgeo, EuroCCP collaborate on pan-European counterparty service

Omgeo and EuroCCP are set to jointly develop a pan-European equities central counterparty (CCP) service for hedge fund transactions. The service will be designed to mitigate the counterparty risks and reduce the inefficiencies that characterise the hedge fund/prime broker/executing broker processing chain. The processing platform will be based on Omgeo Central Trade Manager, which services trades from execution through to settlement. Omgeo and EuroCCP expect to conduct pilot testing of the n