DTCC Connection

Aug 22, 2014 • DTCC Connection

EuroCCP Shortlisted by Financial News as Europe’s Clearing House of the Year

by Björn Svensson

EuroCCP has been shortlisted as the Clearing House of the Year at the Financial News Awards for Excellence in Trading and Technology 2014.

The Awards for Excellence in Trading and Technology shortlists are drawn-up by Financial News’ editorial team who conduct extensive research. The winner in each category is then decided by an independent panel of industry leaders and experts who cast votes on the nominees. Financial News is a weekly journal published by Dow Jones covering the investment banking, fund management and the securities industries.

EuroCCP was voted the Best Clearing House Europe award three times in the past, an award which recognizes excellence and innovation among central counterparties (CCPs) that clear a variety of asset classes. This year the award is re-named Clearing House of the Year, reflecting the global market served by CCPs for derivatives. Also included on the short-list are the large derivatives CCPs CME Clearing Europe, Eurex Clearing, ICE Clear Europe and LCH.Clearnet.

“We are honoured and proud to once again be nominated for Clearing House of the Year at a time when EuroCCP has attained such transformative achievements,” said Diana Chan CEO of EuroCCP. “We believe this recognition reflects our commitment to lowering costs and mitigating risk in the industry while also delivering the highest quality of customer service.”

In April 2014, EuroCCP became the first equities CCP to be authorized as European Market Infrastructure Regulation (EMIR) compliant. This confirmed that the company’s risk management framework, operating model, technology, governance and capital meet the necessary standards for protecting the financial markets as required by EMIR.

In May 2014, EuroCCP announced it would start clearing trades executed on the London Stock Exchange as EuroCCP continues to push the case for more competition and reduced costs in European cash equities clearing.

EuroCCP is equally owned by BATS Chi-x Europe, NASDAQ OMX, ABN AMRO Clearing Bank and The Depository Trust & Clearing Corporation (DTCC).

The winners will be announced at a prestigious gala dinner on October 15 at London’s Victoria & Albert Museum.

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