EuroCCP to provide clearing and settlement services to TradeWeb for European ETFs

EuroCCP, Europe’s leading equities clearinghouse, today announces its collaboration with TradeWeb, a global operator of electronic marketplaces for multiple products including Rates, Credit, Equities, ETFs and Money Markets.

The press release associated to this announcement can be found here.

The new clearing link will enable its members and their clients to streamline the settlement process of ETFs in Europe, whilst providing important counterparty protection in the event of a default.

The settlement of ETFs today can be impacted by high costs associated with OTC settlements and subsequent fails. With CSDR settlement discipline measures on the horizon, the introduction of CCP services for TradeWeb in ETFs can mitigate against such issues, whilst being able to cross net ETFs traded and cleared on other trading venues.

The clearing link between TradeWeb & EuroCCP is expected to be available to its clients in Q4 2019, subject to regulatory approvals.

Please contact the Relationship Management & Client Services team at EuroCCP for further information.