EuroCCP, a subsidiary of Cboe Global Markets and one of the biggest clearing houses in Europe, announced its rebranding to Cboe Clear Europe (CCE) on Monday.
EuroCCP has been a part of Cboe since 1 July 2020, and during the last two years, it has enhanced its position as a central clearing house in the cash equities, expanding the number of cleared venues to 47 from 37. It gives the entity access to almost 95% of all European equity trades.
"Cboe's acquisition has already enabled a step-change in our business, and we feel now is the right time to rebrand as Cboe Clear Europe as we pursue continued growth wherever we can bring the most value for our venues, members and clients. It clearly demonstrates our Cboe ownership and provides us with a globally recognized brand when it comes to the services we offer," Arnoud Siegmann, the Interim President and Chief Operating Officer of Cboe Clear Europe, said.
The clearing house also supports the operations of Cboe Europe Derivatives (CEDX), CBOE's pan-European derivatives exchange. Cboe Clear Europe allows the exchange's clients to cut trading costs by clearing a wide range of equity derivatives sourced from Europe from a single clearing house.
New Acquisitions and Trading Floor
Cboe remains active on the acquisition front in 2022 as well. In May, it announced the completion of the purchase of Eris Digital Holdings (ErisX), a Chicago-based crypto exchange . It is a significant move for the platform as it allows it to take a more serious interest in the cryptocurrency industry, both spot and derivatives.
Meanwhile, June saw the acquisition of NEO, a fintech firm that consists of NEO Exchange and NEO Connect. By acquiring the Toronto-based company, Cboe wants to support its Canadian customers and its new strategy based on global ETP and corporate listings.
Later in June, a global market infrastructure provider announced the launch of a new trading floor in Chicago. It is located in the historic Chicago Board of Trade (CBOT) Building and returning to its original location from 1973.
