SIX Swiss Exchange, Switzerland’s paramount stock exchange, has welcomed its newest clearing provider, EuroCCP, which will be available as an additional option to trading participants, according to a SIX statement.
The addition by SIX Swiss Exchange is part of a bid to enlarge its choice for Clearing Services, as EuroCCP constituting a third Central Counterparty (CCP) for the Swiss market. Securing EuroCCP on its exchange is important for SIX, as it helps the group streamline its operations and build on an existing regiment of clearing partners.
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EuroCCP joins SIX x-clear Ltd and LCH Ltd as only the third clearing partner deployed by SIX. SIX formally added two CCPs as participants back in 2003, with a sizable lag in time between them and its newest entrant. Addiitonally, SIX also unveiled an initiative to extend its clearing services to the Nordic markets, a further sign of its growing latitude in Europe.
More specifically, SIX x-clear Ltd, the clearing arm of SIX Securities Services, will be offering comprehensive clearing services for trades executed on Nasdaq Nordic trading platforms.
Last month, SIX made headlines after Market Wizards started trading on its marketplace for Swiss and international securities, making it the first new trading participant of 2017.