Turquoise Europe MTF – Go-live 30 November 2020

Turquoise has announced its intention to go-live with its EU entity on Monday 30th November 2020, in advance of the end of the transitional period of the UK exiting the European Union. This is subject to a final go / no-go decision next week.

Turquoise has obtained regulatory approval from the Autoriteit Financiële Markten (AFM) in The Netherlands to operate as an MTF (Turquoise Europe).

Clearing Participants wishing to trade on Turquoise Europe (Operator MIC TQEX) will need to have the following actions completed as soon as possible with EuroCCP:-
• Statement of Authority signed
• Netting set up agreed
• Standard Settlement Instructions (SSIs) confirmed
• Successful testing undertaken

Further information on membership applications, client testing and transition arrangements can be found at EuroCCP’s EU based venues & Brexit web page.

Should you have any further queries, please do not hesitate to contact us.

EuroCCP Relationship Management
T. +44 20 7392 7480

Aquis Exchange Europe (AQEU) extends additional securities on their European venue trade date 12 November 2020

After Aquis Exchange Europe’s (AQEU) initial soft launch in March 2019, where 13 selected securities were made available for trading, EuroCCP is pleased to announce its readiness to activate over 1,000 additional securities to AQEU at close of business on 11th November 2020.
Clearing Participants wishing to start trading on the new platform need to ensure that the following is completed:-

• Statement of Authority fully completed and signed.
• Netting set up agreed.
• Standard Settlement Instructions (SSIs) confirmed.
• Successful testing undertaken.

Further information on membership applications, client testing and transition arrangements can be found at EuroCCP’s EU based venues & Brexit web page.
Should you have any further queries, please do not hesitate to contact us.

EuroCCP Relationship Management
T. +44 20 7392 7480

EuroCCP Named Clearing House of the Year


EuroCCP is delighted to have been named ‘Clearing House of the Year’ by Financial News in its 2020 Trading & Technology Awards. This award reflects EuroCCP’s achievements over the past year in the post-trade equities market in Europe.

 Under the leadership of CEO Cecile Nagel, the company has grown through its venue connections, cleared volume and completed the transaction with Cboe Global Markets. 

Whilst we continue to operate in difficult conditions, we look forward to partnering with our clients in 2021 to enhance our equities business, expand into equity derivatives and help to bring efficiencies and liquidity to the ETF market.

Thank you for your continued partnership and support.

Clearing Rule Book Changes

EuroCCP announces that an updated version of its Clearing Rule Book is posted on its website.

On 21 April 2020 EuroCCP published an updated version of its Clearing Rule Book (“CRB”) together with an updated Regulation Trade Refusal and a newly introduced Regulation Liquidity Measures on its website for consultation.

The changes to the CRB were open for consultation for a 30 calendar day consultation period. This period ended on 20 May 2020.

The purpose of the changes is to introduce new tools and measures to address potential liquidity risks with the aim to enhance EuroCCP’s liquidity risk management framework and resilience.

Following feedback, a change has been made in the Regulation Liquidity Measures in respect of the look back period used to determine Qualifying Clearing Participants and to calculate the applicable Settlement Exposure Add-on Percentage. An uninterrupted period of three months instead of twelve months immediately prior to the Designation Date will be used to determine whether a Clearing Participant would qualify as Qualifying Clearing Participant. In addition,  the applicable look back period to calculate the Settlement Exposure Add-on Percentage will be changed from 12 months to 3 months as well.  This change will allow Clearing Participants to be sooner out of scope of the obligation to provide Settlement Exposure Add-on if the amount of liquidity risk brought to EuroCCP by that Clearing Participant has reduced over time.

Next to that a few clerical changes have been made in section 5 of the Regulation Liquidity Measures which we believe to be non-contentious. Apart from these adjustments no changes have been made to the versions that were published 21 April 2020.

The final versions of the updated CRB, the updated Regulation Trade Refusal and the new Regulation Liquidity Measures are now published on EuroCCP’s website. They will be in effect as of 1 July 2020.

Once more we would like to thank the Clearing Participants that have participated in the consultation.

For queries, please contact our Relationship Management department.

Cboe Global Markets Completes EuroCCP Acquisition

Today, Cboe Global Markets has completed its acquisition of EuroCCP.

The acquisition brings together two pan-European organizations that have long championed competition, open access and clearing interoperability in Europe.

The full press release is available here.

The acquisition paves the way for the planned launch of Cboe Europe Derivatives, a new Amsterdam-based futures and options market, in the first half of 2021, subject to regulatory approvals.

For further information on this important milestone in our history, please contact the Relationship Management team.

Updated Regulation Investment Policy


EuroCCP is pleased to inform you that it has updated its Regulation EuroCCP Investment Policy.

The changes have been approved in accordance with the requirements of the Regulation and relate to the following:


  • Citibank, National Association (LEI E57ODZWZ7FF32TWEFA76) is recognised as a Credit Institution.
  • Annex 1, Approved Countries has been extended with The United States of America.


  • Lloyds Bank PLC is no longer recognised as a Credit Institution.

Following the above changes, EuroCCP will publish its updated Regulation Acceptable Collateral after thirty (30) days following this newsflash .

The Regulation Acceptable collateral will be extended to include United States Treasury Securities.

Should you have any further queries, please do not hesitate to contact us.

Revised Liquidity Framework Client Package

Following the conclusion of the consultation of the Revised Liquidity Framework, the website has now been updated with further details and examples of the additional member reporting. Further details can be found in the following document.


It is anticipated that the new measures will come into effect on 1st July, subject to regulatory approval.

EuroCCPs COVID19 response

In response to the evolving COVID19 situation, EuroCCP is making sure it is fully prepared to continue to operate as normal and is in close dialogue with all its stakeholders including clients, regulators and suppliers.

In line with the recently issued advice from the Dutch Government to work from home as much as possible, we have begun transitioning our staff to working remotely. All critical functions, including external communications, continue to operate as normal with no impact to the functioning of our services.

EuroCCPs Business Continuity Framework is centred around the ability to work remotely for an indefinite period of time without the need to access our office locations in London and Amsterdam. Our ability to operate remotely is regularly tested and a test was recently completed confirming our ability to continue our services without any disruptions.

We continue to monitor the situation closely and will inform stakeholders of any changes to the normal functioning of our services should any such changes arise.

A more detailed FAQ document is available on request. Please contact a member of the EuroCCP Relationship Management Team with any questions.

Updated Regulation Fees and Penalties – Effective 1 March 2020

Please be advised EuroCCP will be making two adjustments to its Fee Regulation, effective 1 March 2020.

  1. Following progress by various CSDs with the implementation of auto-partialing functionality and the introduction of T2S. EuroCCP will remove “Reimbursement Partial Settlement” (item 4.2 in Fee Regulation) effective 1 March 2020.
  2. EuroCCP will adjust the Trading Participant per Exchange / Platform Participant fee (item 4.9 in Fee Regulation). The Participant fee will now be applicable for Trading Participants who submit off book trades for clearing regardless of the time received.

A copy of the new fee schedule can be found below.

Should you wish to discuss the above changes, please contact EuroCCP’s Relationship Management team.

Cboe to acquire EuroCCP

We are pleased to inform our members that Cboe Global Markets today announced it has entered into a definitive agreement to acquire EuroCCP.

EuroCCP will continue to champion open access and grow its Equities and ETFs clearing business in Europe, following our recent go-live with Deutsche Börse and the strategic partnership with TradeWeb.

Cboe’s ownership of EuroCCP is expected to provide further opportunities to expand our business, including the development of derivatives clearing capabilities, subject to regulatory approvals.

The transaction is expected to close in the first half of 2020.


Please contact Tim Beckwith Head of Commercial & Business Development for any questions associated to this announcement.  Contact details as follows:

0044 (0)207 392 7492

0044 (0)7395 798391