EuroCCP goes live with Frankfurt Stock Exchange
European equities clearing house EuroCCP is to begin clearing trades executed on Frankfurter Wertpapierbörse (FWB), the Frankfurt Stock Exchange, from 11 November, 2019.
EuroCCP’s clearing services are now available on a preferred CCP basis for trades in cash equities and ETFs executed on Xetra for the first time.
EuroCCP has long advocated the benefits of open access and increased interoperability amongst European clearing houses. With the addition of FWB, EuroCCP has extended its clearing access to over 95 per cent of cash equity trades executed on organised markets in Europe.
Cécile Nagel, CEO, EuroCCP, says: “Open access and competitive clearing have been essential drivers of post-trade simplicity and efficiency, and we are pleased to be able to extend our services to firms executing trades on FWB. This is a key milestone in pan-European equities clearing and will allow clearing members to consolidate more flow, reducing complexity and leading to significant operational, netting and cost efficiencies.”
EuroCCP is central to Europe’s equities markets and currently clears more than 30 per cent of the region’s cash equities and approximately 40 per cent of the trades on exchanges and venues offering three-way interoperability. Last year, EuroCCP finalised agreements to clear trades executed on leading exchanges including Oslo Børs, Borsa Italiana and Euronext Dublin. Earlier this year, EuroCCP announced it will clear European ETFs on Tradeweb, positioning EuroCCP as a clearing house with the broadest coverage in Europe.