EuroCCP, a pan-European clearing house and subsidiary of Cboe Global Markets, Inc, has rebranded as Cboe Clear Europe with immediate effect. Cboe acquired EuroCCP on 1 July 2020.
Under Cboe’s ownership, Cboe Clear Europe has enhanced its position as a pan-European cash equities clearing house, by expanding the number of venues it provides clearing services to from 37 to 47, which provides it with access to approximately 95 per cent of all European equity trades.
In addition to its leading position clearing for venues that allow interoperable clearing, it has also seen strong growth in preferred clearing, which is used on venues that do not support true clearing interoperability and allows Cboe Clear Europe to clear a trade provided that both counterparties have elected it as their preferred clearing provider.
Cboe Clear Europe’s volumes for this service were 40.5 million in the 10 months ended 31 October 2022, compared with 9.1 million in 2021, helping its clients to achieve significant transactional cost savings by allowing them to consolidate more of their pan-European equities clearing activities at a single provider.
Cboe Clear Europe has also successfully diversified into equity derivatives clearing in support of Cboe Europe Derivatives (CEDX), Cboe’s pan-European derivatives exchange which launched in September 2021. This innovative marketplace is already demonstrating its potential and Cboe Clear Europe is committed to providing CEDX’s participants with meaningful cost savings by offering them the ability to clear a broad range of pan-European equity derivatives at a single clearing house.
