In advance of the UK’s proposed exit from the European Union (EU), EuroCCP is working closely with trading venues that are establishing new EU-based venues to continue to serve their trading members and trading activity across Europe.
EuroCCP already offers post-trade clearing services to UK based venues and clients and will now assist the venues with extending their service offering through their EU-based entities. We would refer you to the recent announcements made by Cboe Global Markets and Turquoise dated 3 July 2018 in this regard.
As a consequence of these developments, EuroCCP will offer post-trade clearing services to the newly established European trading venues in its capacity as a Pan-European Central Counterparty in addition to the current activity for existing UK based venues and clients. EuroCCP is best positioned to support clients establishing new memberships through their EU based entities to continue trading and clearing in the EU post Brexit.
To continue to offer its services to clients and platforms incorporated in the UK following Brexit, EuroCCP has submitted its application for recognition as a CCP with the Bank of England.
Further details and next steps on all new initiatives will be published in due course.