In the News
Response to LSE's Proposed Settlement Netting Service (PDF)
EuroCCP welcomes the LSE's invitation to interested parties to comment on its settlement netting service as described in the consultation document of 29 January 2008.
The Grey Areas of Project Turquoise
Stock exchanges, like water companies, used to be dull entities; always a steady flow of business, but no one was ever expected to make a fortune by owning them. How times have changed — for both bourses and utilities.
Devil in the Details on Best Execution
Liquidity fragmentation may well lead to a reduction in execution costs post-MiFID, but any perceived gains could be wiped out by the costs of clearing and settlement. Do traders appreciate the challenge, cost and complexity of clearing and settlement in a post-MiFID landscape of multiple liquidity venues? If not, they should, since it’s a fundamental requirement of Article 21 and achieving best execution.
LSE Rival Moves Nearer to Reality
Attempts by a group of investment banks to set up Project Turquoise – a pan-European trading platform that will rival the London Stock Exchange (LSE) – have moved a step nearer to fruition with the appointment of EuroCCP to provide clearing and settlement services.
Top Investment Banks Step Up Plans for Rival Exchange to LSE
Project Turquoise, the pan-European share-trading platform, announced yesterday that it had appointed America's Depository Trust & Clearing Corporation (DTCC) to process trades over the planned rival to Europe's stock exchanges.
DTCC to Handle Turquoise Settlement
A group of leading investment banks intent on setting up a pan-European trading platform to rival the likes of the London Stock Exchange and NYSE-Euronext on Wednesday appointed a company to provide settlement services for the new venture.