November 7, 2019 – EuroCCP, Europe’s leading equities clearing house, today announced that it will clear trades executed on Frankfurter Wertpapierbörse (FWB), the Frankfurt Stock Exchange, starting November 11, 2019. EuroCCP’s clearing services are now available on a preferred CCP basis for trades in cash equities and ETFs executed on Xetra© (MIC: XETR) for the first time.
EuroCCP has long advocated the benefits of open access and increased interoperability amongst European clearing houses. With the addition of FWB, EuroCCP has extended its clearing access to over 95 per cent of cash equity trades executed on organised markets in Europe.
Cécile Nagel, CEO, EuroCCP, commented: “Open access and competitive clearing have been essential drivers of post-trade simplicity and efficiency, and we are pleased to be able to extend our services to firms executing trades on FWB. This is a key milestone in pan-European equities clearing and will allow clearing members to consolidate more flow, reducing complexity and leading to significant operational, netting and cost efficiencies.”
EuroCCP is central to Europe’s equities markets and currently clears more than 30 per cent of the region’s cash equities and approximately 40 per cent of the trades on exchanges and venues offering three-way interoperability. Last year, EuroCCP finalised agreements to clear trades executed on leading exchanges including Oslo Børs, Borsa Italiana and Euronext Dublin. Earlier this year, EuroCCP announced it will clear European ETFs on Tradeweb, positioning EuroCCP as a clearing house with the broadest coverage in Europe.
EuroCCP is important to Europe’s equities markets as it currently clears for 38 trading venues, representing over 95% of the equity landscape in the continent, making EuroCCP the most connected equity CCP in Europe. EuroCCP provides clearing members with easy access and ability to maximise operational efficiency and netting opportunities whilst reducing risk and cost in the market. Headquartered in Amsterdam, EuroCCP is regulated by De Nederlandsche Bank and by Autoriteit Financiële Markten.