EuroCCP selected by Burgundy to provide interoperable clearing

London, 12 December 2011 - EuroCCP, the pan-European cash equities clearing house, and Burgundy, the Nordic exchange, today announced that EuroCCP will provide interoperable Central Counterparty (CCP) clearing to Burgundy.

EuroCCP will offer CCP clearing in securities traded on Burgundy in 2012. This is subject to approval by the regulators of Burgundy and EuroCCP.

Diana Chan, CEO of EuroCCP, said: "Our partnership with Burgundy marks another step towards providing genuine competition in the clearing of Nordic securities. This is great news for all equity traders operating in these markets.

"We are pleased to see more trading venues adopt interoperable clearing as ultimately we believe this will succeed in transforming the European equities trading landscape with all market participants enjoying the benefits of greater choice and lower costs."

Olof Neiglick, CEO of Burgundy, said: "At Burgundy, we are continuously looking to strengthen and expand our Nordic trading and clearing offer. We are delighted to be working with EuroCCP as this will help us to achieve this goal."

Burgundy offers trading in over 1,000 securities in Denmark, Finland, Norway and Sweden.

 

About EuroCCP

European Central Counterparty Limited (EuroCCP) is a UK-incorporated, FSA-regulated Recognised Clearing House. 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 the scale economies of the US market and risk management expertise to European market participants. It currently clears equity trades in 19 markets. EuroCCP provides pan-European central counterparty services for BATS Europe, NYSE Arca Europe, Pipeline Financial Group Limited, SIGMA X MTF, SmartPool, Turquoise and UBS MTF.

EuroCCP has been selected to clear for Chi-X Europe on an interoperable basis. EuroCCP has the mandate from NASDAQ OMX Nordic Exchanges to provide competitive clearing for the stock exchanges of Copenhagen, Helsinki and Stockholm.

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.