Industry Takes Proactive Approach to European Equity OTC Clearing

Traiana, CCPs, banks work together on netting times and CFD processes.

The Walkie Talkie building at 20 Fenchurch Street London
The initiative addresses risk and cost concerns around clearing, in light of shortened settlement cycles and likely regulatory moves.

Launched last week, the service announced its debut with the completion of the first trade between two banks. Initially, CCP Connect will focus on equity contract-for-difference (CFD) hedging legs, and counts brokers such as JPMorgan, Instinet and Credit Suisse among its launch participants. The CCPs on board include LCH.Clearnet in the UK, SIX x-clear in Switzerland, and EuroCCP in the Netherlands.

"What this system is doing is matching over-the-counter (OTC) trades between equities, brokers

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