In the News
CCPs Upbeat about Interoperability for 2011
15 December, 2010 - Article reporting that progress towards post-trade interoperability in Europe’s cash equities markets has taken a major step forward following a letter from European regulators to CCPs EuroCCP, EMCF, SIX x-clear and LCH.Clearnet expressing satisfaction that their proposals are conceptually sound. Diana Chan is quoted saying that regulators are most concerned that inter-CCP risk management is safe, not only for the present but for the future.
Clearing Interoperability Moves Step Closer
15 December, 2010 - Article reporting that U.K., Dutch and Swiss regulators have contacted their local clearers-the London-based houses LCH.Clearnet and EuroCCP; the Swiss clearer SIX X-clear; and the Netherlands-based EMCF- saying that they agreed in principle to an interoperability arrangement proposed by the firms in August. The article further reports that while regulators described the linking model proposed by the clearers as conceptually sound, they also said that there were further issues that needed to be addressed before they could give the green light on the process. Coverage also appeared in Dow Jones and the Wall Street Journal online.
Europe's Clearing Houses Diverge as Reform Nears
14 December, 2010 - Article reporting that U.K., Swiss and Dutch authorities have written to Europe’s central counterparties giving the go-ahead to interoperate, in a move which would potentially reduce the overall cost of trading in the region. Diana Chan is quoted welcoming the confirmation by regulators highlighting the time that it will take CCPs and regulators to work together to ensure that interoperability is implemented safely.
EuroCCP and Omgeo to create clearing system
07 June, 2009 - Further evidence of rising demand for clearing following the financial crisis is emerging as two leading providers of post-trade services unveil a new clearing mechanism for asset managers and hedge funds.
The Impact of MiFID on Europe's Execution Landscape: Pre-Trade and Post-Trade Implications
Sixteen months after the Markets in Financial Instruments Directive (MiFID) came into force, Bob Currie evaluates implications of the Directive for market efficiency and standards of investment protection.
Preserving Financial Stability Amid the Storm: Liquidity and Capital Management in Volatile Market Conditions
Bob Currie reviews policy lessons that can be drawn from the global financial crisis and implications for supervising capital and liquidity adequacy.
Balance of Power
Europe's securities industry is transforming itself at breakneck speed into a much more competitive arena. But is the post-trade world moving fast enough to keep up?
Turquoise trade feed - August 2008
In August 2008, Turquoise, in conjunction with European Central Counterparty Limited ('EuroCCP') and Citibank N.A. London ('Citibank'), will introduce pan-European trading and Central Counterparty ('CCP') arrangements for trades executed on the Turquoise platform.
Europe urged to adopt US clearing model
15 June, 2008 - Attempts by Brussels to persuade exchange clearers in Europe to lower tariffs by establishing links with each other will take too long and a US-backed solution should be used instead, according to the chief executive of Euro CCP, the European unit of the largest US post-trade services provider.
Smartpool appoints clearing and settlement partners: EuroCCP & LCH Clearnet
06 May, 2008 - SmartPool, a pan-European electronic block trading platform created by NYSE Euronext, HSBC and BNP Paribas has today announced that it has selected EuroCCP and LCH.Clearnet SA as its clearing and settlement service providers.
Response to LSE's Proposed Settlement Netting Service (PDF)
07 March, 2008 - 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.
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
19 April, 2007 - 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
19 April, 2007 - 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.
