For the third consecutive year, EuroCCP has been named Best Clearing House by the Financial News Awards for Excellence in Trading & Technology Europe 2012.
The company was chosen from a competitive field of regional clearing firms consisting of CME Clearing Europe, Eurex Clearing, ICE Clear Europe and LCH Clearnet.
EuroCCP was also a winner of Best New Clearing Initiative, which recognized its role in working with industry peers to lobby for full competition in European clearing and for the implementation of four-way interoperability. This initiative won the highest score from the judging panel among all Trading & Technology awards.Catalyst for change
“EuroCCP has been a catalyst for change and innovation in European equities clearing since entering the market four years ago,” said Andrew Gray, DTCC Managing Director, Core Business Management, and Chairman of EuroCCP. “The company has played a major role in driving down clearing costs and increasing efficiencies in Europe, while championing interoperability – and demonstrating its effectiveness.
“Winning this award for a third time underscores EuroCCP contributions to the region’s financial infrastructure; it also signals the team’s high standards for quality and client service, which are essential in Europe’s competitive clearing marketplace,” said Gray. EuroCCP has established a reputation as one of the clearing houses that market participants most associate with pushing for and delivering multi-CCP interoperability by authoring white papers and articles on interoperability and contributing to industry groups and panel discussions about clearing competition.
Diana Chan, CEO of EuroCCP, noted that the Financial News awards are a source of pride because they signify industry recognition that EuroCCP gives clients the highest quality of service, along with cost-efficiency and innovative solutions that effectively mitigate risk. Chan attributes the company’s success “to collaboration with our clients and a focus on the team’s common objective to make EuroCCP the pan-European equity CCP of choice in Europe.”Background on awards
The Financial News Awards for Excellence have become a fixture in Europe’s annual calendar of industry events. Managed by the publication’s editorial team, the awards aim to provide an independent, authoritative view of the most innovative and visionary players in the European trading and technology industry.
Financial News editors draw up shortlists of nominees based on information gathered from analysts, sellside and buyside firms, exchanges, clearing houses and industry experts, together with empirical data. An independent panel of 50 judges comprising industry veterans and experts votes.@
DTCC has proposed changes in security processing that will help eliminate existing physical certificates as well as end the issuance of new certificates in the U.S.Read More