EuroCCP completes consolidation with EMCF
The firm said that the combined business has saved clearing participants more than €10m annually as a result of lower settlement costs, volume discounts on clearing fees and elimination of one set of connectivity and interoperability costs.
Diana Chan, CEO of EuroCCP, said: “We are clearing for 16 trading platforms; this reach makes a positive difference to our clients’ clearing related costs. For example, 50 per cent of their settlement costs have been cut where they previously needed to settle with two different CCPs.”
Within seven weeks the clearing house has migrated 20 clearing participants and six trading platforms including Equiduct, GetMatched, NYSE Arca, Smartpool, Sigma X and UBS MTF.
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