Markets

EuroCCP is a pan-European central counterparty (CCP) that provides clearing and settlement services for 25 platforms including:-

  • Aquis
  • BlockMatch
  • Cboe Europe Equities
  • Equiduct
  • Euronext Amsterdam
  • Euronext Brussels
  • Euronext Lisbon
  • Euronext London
  • Euronext Paris
  • Euronext Access Brussels
  • Euronext Block
  • London Stock Exchange
  • Marche Libre Brussels
  • Marche Libre Paris
  • Nasdaq Copenhagen
  • Nasdaq Helsinki
  • Nasdaq Stockholm
  • Nasdaq First North
  • Sigma-X
  • SIX Swiss Exchange
  • Turquoise
  • UBS MTF
  • Aquis
  • BlockMatch
  • Cboe Europe Equities
  • Equiduct
  • Euronext Amsterdam
  • Euronext Brussels
  • Euronext Lisbon
  • Euronext London
  • Euronext Paris
  • Euronext Access Brussels
  • Euronext Access Lisbon
  • Euronext Access Paris
  • Euronext Block
  • Euronext Growth Brussels
  • Euronext Growth Lisbon
  • Euronext Growth Paris
  • London Stock Exchange
  • Nasdaq Copenhagen
  • Nasdaq Helsinki
  • Nasdaq Stockholm
  • Nasdaq First North
  • Sigma-X
  • SIX Swiss Exchange
  • Turquoise
  • UBS MTF
  • Aquis
  • BlockMatch
  • Cboe Europe Equities
  • Equiduct
  • Euronext Amsterdam
  • Euronext Brussels
  • Euronext Lisbon
  • Euronext London
  • Euronext Paris
  • Euronext Access Brussels
  • Euronext Access Lisbon
  • Euronext Access Paris
  • Euronext Block
  • Euronext Growth Brussels
  • Euronext Growth Lisbon
  • Euronext Growth Paris
  • London Stock Exchange
  • Nasdaq Copenhagen
  • Nasdaq Helsinki
  • Nasdaq Stockholm
  • Nasdaq First North
  • Sigma-X
  • SIX Swiss Exchange
  • Turquoise
  • UBS MTF

EuroCCP also clears over-the-counter (OTC) European cash equities trades provided by various brokers and matching platforms, including ITG Alternet and Traiana.

Securities from 20 different markets are cleared and settled through EuroCCP. In order to offer an efficient settlement solution, EuroCCP has established direct connectivity with 15 national Central Securities Depositories (CSDs). For those markets that do not settle through direct connectivity, EuroCCP uses an account operator or settlement agent model:-

  • Austria – OeKB
  • Belgium – Euroclear Belgium
  • Denmark – VP Securities
  • Finland – Euroclear Finland
  • France – Euroclear France
  • Germany – Clearstream Banking Frankfurt
  • Ireland – Euroclear UK & Ireland
  • Italy – Monte Titoli
  • Netherlands – Euroclear Nederland
  • Norway – VPS
  • Portugal – Interbolsa
  • Spain – Iberclear
  • Sweden – Euroclear Sweden
  • Switzerland – SIX SIS
  • UK – Euroclear UK & Ireland
  • Czech Republic – Settlement agent
  • Hungary – Settlement agent
  • Poland – Settlement agent
  • United States – Settlement agent
  • Depository Receipts – Account operator
  • Austria – OeKB
  • Belgium – Euroclear Belgium
  • Denmark – VP Securities
  • Finland – Euroclear Finland
  • France – Euroclear France
  • Germany – Clearstream Banking Frankfurt
  • Ireland – Euroclear UK & Ireland
  • Italy – Monte Titoli
  • Netherlands – Euroclear Nederland
  • Norway – VPS
  • Portugal – Interbolsa
  • Spain – Iberclear
  • Sweden – Euroclear Sweden
  • Switzerland – SIX SIS
  • UK – Euroclear UK & Ireland
  • Czech Republic – Settlement agent
  • Hungary – Settlement agent
  • Poland – Settlement agent
  • United States – Settlement agent
  • Depository Receipts – Account operator

Depository receipts traded on MTFs settle in Euroclear Bank.

For an overview of the service, we would refer you to EuroCCP’s Service Overview.

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EuroCCP Service Overview

Version October 2017

Market specifics

In addition to the EuroCCP Service Overview and Regulations, a detailed service description is available for the Spanish and Swiss market. We would refer you to the section on Spain for the Service Description and Specifications – Spanish market and the section on Switzerland for the Service Description – CSD PoA Swiss Market.

Sections: Spanish market | Swiss marketTop


Spanish market

EuroCCP is a direct Iberclear participant with CCP status and is an authorised and certified Directly Connected Party (DCP) to the Target2 Securities (T2S) platform in the Spanish market. The CCP status implies that EuroCCP will (i) be responsible for the reporting of all gross transactions it has cleared and (ii) must support the operational processes relating to the four different types of accounts at Iberclear, namely Individual (I), Proprietary (P), Third Party (TPA) and Special Financial Intermediary (SFI).

In addition to an efficient settlement solution, EuroCCP offers  Trade Realignment, Ownership reporting and Hold & Release services to enable Clearing Participants to comply with Spanish market practices. A detailed description of these services and specification can be found in EuroCCP’s Service Description and Specifications – Spanish Market.

Sections: Spanish market | Swiss marketTop


Swiss market

As a direct participant with SIX SIS, the Swiss Central Securities Depository (CSD),  EuroCCP and its Clearing Participants benefit from a number of functionality enhancements which improve settlement efficiency. In its role as CCP with SIX SIS, EuroCCP supports the CSD Power of Attorney settlement model. Settlement instructions that are submitted through this model benefit of the auto-split functionality.  A detailed description of these services and specification can be found in EuroCCP’s Service Description – CSD PoA Swiss Market.

Sections: Spanish market | Swiss marketTop