EuroCCP has announced that the consolidation of businesses following its merger with EMCF has completed.
The combined entity, still named EuroCCP, is now the largest cash-equities clearing house in Europe. Twenty clearing participants and six platforms have now been migrated, including Equiduct, GetMatched, NYSE Arca, Smartpool, Goldman Sachs's Sigma X and UBS MTF.
"The migration of twenty clearing participants and six trading platforms within seven weeks illustrates the technical and operational ease with which access to platforms and interoperability can be implemented when parties collaborate," says Diana Chan, CEO at EuroCCP. "We are clearing for 16 trading platforms; this reach makes a positive difference to our clients' clearing related costs. For example, 50 per cent of their settlement costs have been cut where they previously needed to settle with two different CCPs. Our goal is to continue to help market participants drive down costs by securing access and clearing trades from more platforms."
While at Sibos Toronto, James shares some interviews covering topics on blockchain, fintechs and cybersecurity.Subscribe to Weekly Wrap emails