LCH and SIX to connect to SIGMA X MTF
SIX x-clear, the clearing arm of SIX Securities Services, will connect to Goldman Sachs’ SIGMA X Multilateral Trading Facility in July 2016.
The move, which is subject to testing and regulatory approval, represents an effort to expand the firm’s platform coverage in Europe and offers clients enhanced settlement netting services, enhancing its value as a central counterparty across the region.
SIX x-clear offers clearing services covering cash equities, ETFs and fixed income securities, as well as real-time risk management capabilities.
Global clearing house LCH has also announced that it will offer equities clearing through SIGMA X MTF from July, allowing users of multiple trading venues to consolidate their trading activities through a single clearing house.
As a result of the move, LCH’s EquityClear service will offer clearing across 17 interoperable European equities trading venues from July.
SIGMA X MTF, run by Goldman Sachs since 2011, provides liquidity and enhanced execution quality through a dark pool order-matching system.
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