Launching in the Nordic markets in 2010
— Diana Chan, CEO
EuroCCP is pleased to be extending its equities central counterparty (CCP) services to firms trading on the NASDAQ OMX stock exchanges in Denmark, Finland and Sweden. *
These firms will be able to access the benefits EuroCCP already provides to users of the Turquoise, SmartPool, NYSE Arca Europe and Pipeline Financial Group Limited trading venues, including:
- Robust, scalable, low-cost clearing
- Improved clearing efficiencies
- Counterparty risk management backed by 35 years of experience
Competitive Clearing and Interoperability
Competitive clearing in the Nordic markets, coupled with interoperability between the several CCPs serving the three exchanges, promise to unlock significant benefits for market participants. On 16 June 2010, EuroCCP delivered a joint presentation with EMCF and SIX x-clear on the status of interoperability, hosted by NASDAQ OMX in Stockholm. More
EuroCCP is committed to competitive clearing across Europe. As per the European Code of Conduct on Clearing and Settlement and by the Markets in Financial Instruments Directive (MiFID), competitive clearing will expand firms' trading opportunities by giving them access to the trading platforms served by the interoperating CCPs; drive down firms' trading and post-trade costs and enhance Europe's ability to attract investment capital in the global economy.
Firms trading on the Danish, Finnish and Swedish exchanges can start preparing now to sign on to EuroCCP's services. Click here or contact one of the representatives listed below to talk about getting started.
The EuroCCP Advantage for Nordic Venues and Traders
Firms evaluating their CCP choices should consider EuroCCP's superior value proposition. More
EuroCCP offers:
- The lowest-ever equity clearing tariffs available in Europe – view Fee Schedule
- A simple, transparent fee structure that provides volume discounts at a Participant level – view an estimate using the Clearing Fee Simulator
- Customer-focused services delivered by a user-governed organisation operating at cost
- Proven risk management, battle tested by a parent company with 35 years of experience operating critical market infrastructures
- Pan-European capability, enabling firms to trade the same security on any of the platforms cleared by EuroCCP and have the positions netted into a single settlement and margin obligation
- Reliability and operational excellence assured by system availability and business continuity
Your Partner for Nordic Clearing and Settlement
EuroCCP has been clearing and settling trades from Denmark, Finland, Sweden and 12 other European countries since 2008, and has developed close partnerships in the Nordic region. More
EuroCCP works closely with the Nordic Securities Dealers Association, is already connected to local Nordic markets through Nordea as a settlement agent in Denmark and Finland, and works with Citibank as a settlement agent in Sweden. EuroCCP clears over 750 Nordic securities ISINs across trading venues in Denmark, Finland and Sweden. EuroCCP clears trades in the Danish krone (DKK), Swedish krona (SEK), euro and four other currencies.
Seamless Transition to EuroCCP
We've made it easy for firms in Denmark, Finland and Sweden to transfer their clearing activities to EuroCCP. Prospective participants will benefit from our dedicated Nordic resources. EuroCCP has organised our multinational team to expedite onboarding for firms that trade on NASDAQ OMX's platforms in Copenhagen, Helsinki and Stockholm, and to minimise the costs and operational changes resulting from a move to EuroCCP. More
Furthermore, existing EuroCCP participants wishing to extend their clearing relationship to the NASDAQ OMX platform can do so within a week, through a fast track process with minimum documentation requirements.
Each prospective EuroCCP Participant from Denmark, Finland and Sweden will be partnered with a Relationship Manager dedicated to the Nordic region. The Relationship Manager is supported by:
- An onboarding team covering Nordic business times
- A dedicated testing team
- An operations team available from 07:00 to 22:00 GMT to address any queries
- A collateral management representative
Choosing EuroCCP
Our team is ready to answer questions and assist firms with the Nordic onboarding process. Please contact any of us today:
| Rob Penn | Celine Dehaene |
| rpenn@euroccp.co.uk | cdehaene@euroccp.co.uk |
| +44 (0)20 7650 1595 | +44 (0)20 7650 1565 |