EMCF to Provide Clearing for Turquoise

European trading platform Turquoise, owned by LSE Group, has announced that effective today, the Amsterdam-based European Multilateral Clearing Facility N.V., or EMCF, will provide clearing services for the platform.

EMCF, which has secured one client and is in negotiations with others, joins EuroCCP, LCH.Clearnet, and SIX x-clear at Turquoise, providing a wider choice of options for clearing on the equities platform. Turquoise says participants will be able to choose, on a market-by-market basis, which of the central counterparties (CCP) they wish to clear with, which will create cross-market netting opportunities, and efficient consolidation that will result in lower end-to-end cost for investors.

"Turquoise is leading the way in giving customers access to a choice of clearing provider. We were the first platform to offer the flexibility to select separate clearing houses for trading in different countries. Bringing EMCF on-board further underlines our commitment to innovation and the development of a competitive, customer-focused post trade landscape," says Adrian Farnham, CEO at Turquoise.