Dear Clearing Participant,
Following EuroCCP’s Newsflash dated 20 December 2018 and 28 January 2019 regarding the establishment of new EU-based venues in advance of the UK’s exit from the European Union on 31 December 2020, Sigma X has announced its intention to go-live with its EU entity – Sigma X Europe MTF (subject to regulatory approvals).
Through its EU entity Sigma X Europe MTF (MIC-code SGMU), Sigma X will enable participants to continue trading in EEA symbols only (excluding UK and Swiss) and will continue to operate its UK based trading venue Sigma X UK (MIC-code SGMX) for trading with the same market coverage as today.
Clearing Participants wishing to trade on Sigma X Europe MTF 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.