European Central Counterparty Ltd. (EuroCCP) is the European subsidiary of The Depository Trust & Clearing Corporation (DTCC) that provides pan-European, low-cost clearing services.

European Central Counterparty Ltd. (EuroCCP) launched its pan-European clearing and settlement services in August 2008. Initially serving Turquoise, a multilateral trading facility (MTF) formed by a consortium of global banks, EuroCCP was subsequently appointed to clear and settle for block trading platform SmartPool, high-frequency trading platform NYSE Arca Europe, and block trading and specialist algorithmic trading platform Pipeline Financial Group Limited.

EuroCCP has also entered into a Memorandum of Understanding with NASDAQ OMX to provide clearing services for its exchanges in Copenhagen, Helsinki and Stockholm.

Who can use the service

A prospective participant of EuroCCP must be a corporation, partnership or other business organization regulated under the securities and/or banking legislation of a country in the European Economic Area or any other country acceptable to EuroCCP. Firms must meet minimum capital requirements, and be able to meet operational requirements and have a satisfactory history of compliance with its regulator. Firms that are not EuroCCP participants can clear and settle trades through a Participant.

Rules are available in the Legal & Regulatory section.

Next: Benefits of using EuroCCP

EuroCCP is a wholly owned subsidiary of The Depository Trust & Clearing Corporation (DTCC).