European Central Counterparty Limited (EuroCCP) is a Recognised Clearing House regulated by the Bank of England. It is the European subsidiary of The Depository Trust & Clearing Corporation (DTCC) and is headquartered in London. EuroCCP was formed to provide clearing and settlement services for a wide range of trading venues across Europe, offering risk management expertise to European market participants. It currently clears equity trades in 19 markets. EuroCCP provides pan-European central counterparty services for BATS Chi-X Europe, Burgundy , Equiduct, NYSE Arca Europe, SIGMA X MTF, SmartPool, Turquoise and UBS MTF. It has the mandate from NASDAQ OMX Nordic Exchanges to provide competitive clearing*. EuroCCP’s clearing participant customers are some of the largest financial market intermediaries.
EuroCCP has developed a capability to clear over-the-counter (OTC) European cash equities trades. It currently clears trades matched on the Omgeo CTM platform and has been mandated by SWIFT to provide a pan-European clearing for its Accord platform*.
EuroCCP successfully introduced full interoperable clearing on BATS Europe and Chi-X Europe platforms on Friday 6 January 2012 and has been selected by BofA Merrill Lynch, Credit Suisse, Morgan Stanley and Nomura, among others, as their CCP of choice on these venues. EuroCCP is the first CCP to be selected as CCP of choice by several clearing participants from the first day of launch of full four-way interoperability on BATS Europe and Chi-X Europe platforms. As of launch date, EuroCCP's volumes of cleared transactions went up by 54% and have been steadily increasing since then. Clearing volumes are expected to increase still further as participants continue to consolidate their activity with EuroCCP on these platforms.
EuroCCP’s interoperable service has also been live on UBS MTF since August 2011, on Turquoise since November 2011, on Burgundy since June 2012 and on Equiduct since July 2012.
* subject to regulatory approval
DTCC ensures the capacity, certainty and reliability required to clear and settle today's enormous trading volumes.Download File
For more information about EuroCCP, visit www.EuroCCP.co.ukRead More
In today's U.S. capital markets, billions of shares of securities change hands every day. In 2008, DTCC settled more than $1.88 quadrillion in securities transactions.Read More