Waters Rankings 2021: Best Clearing house (clearing service provider)—Cboe Global Markets

Product: EuroCCP

Cécile Nagel, EuroCCP
Cécile Nagel, EuroCCP

“Despite the Covid-19 pandemic, combined with Brexit, having had an unprecedented impact on businesses and financial markets, EuroCCP has continued to demonstrate excellent operational resiliency and high levels of client service. The business has attained several major milestones over the past year, most notably its acquisition by Cboe Global Markets in July 2020. I am proud of my team’s ability to serve our customers well during unprecedented circumstances, maintain our standing as the leading pan-European equities clearinghouse and lay the foundations for our expansion into equity derivatives in support of Cboe Europe Derivatives. We are well-prepared for our next phase of growth.”
Cécile Nagel, president, EuroCCP

WHY THEY WON

The Covid-19 pandemic has shined a light on the need for operational resiliency and the fact that EuroCCP cleared a record 1.12 billion trades in 2020 compared to 870 million in 2019 stood out for voters.

WHAT’S NEW

Cboe Global Markets added six new EU-based clearing members and four new EU-based trading venues in preparation for Brexit. In June 2021, the Euronext Oslo Growth market became EuroCCP’s 40th connected venue.

In July 2020, Cboe Global Markets acquired EuroCCP, allowing the clearing house to expand into clearing equity derivatives in support of Cboe Europe Derivatives, a new pan-European equity derivatives exchange scheduled to launch in September 2021.

WHAT’S TO COME 

Cboe Global Markets’ immediate focus is expanding into equity derivatives in support of Cboe Europe Derivatives, which is expected to introduce growth opportunities for Europe’s derivatives market overall, and for EuroCCP and Cboe.  

EuroCCP will initiate clearing for several new venues in 2021, by growing activity across interoperable and preferred clearing venues, as well as connecting to additional venues.

The company is expanding its ETF offering through primary and secondary market clearing in partnership with ETF issuers, ETF RFQ venues like Bloomberg and Tradeweb, and other participants in the ecosystem.

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