EuroCCP to clear trades on Frankfurt Stock Exchange

As of 11 November, EuroCCP will offer clearing in cash equities at the Frankfurt Stock Exchange and Xetra.

Equities clearinghouse EuroCCP has said it will clear trades executed on the Frankfurt Stock Exchange as of 11 November this year.

In a statement, EuroCCP said it will provide clearing for trades on Frankfurter Wertpapierbörse (FWB), and its services are available on a preferred central counterparty clearinghouse (CCP) basis for cash equities and exchange-traded funds (ETFs) on Xetra for the first time.

With FWB, EuroCCP has now expanded its clearing access to more than 95% of European cash equity trades executed on organised venues. The clearinghouse is aiming to boost open access and interoperability among European clearinghouses.

“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,” said Cécile Nagel, CEO of EuroCCP. “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 has agreed to clear trades at various trading venues over the past year, including Oslo Børs, Borsa Italiana and Euronext Dublin. The clearinghouse also agreed to clear trading for the EU entities of Cboe Europe, Turquoise and Aquis Exchange following Brexit.

More recently, Tradeweb teamed up with EuroCCP to facilitate central counterparty clearing for its European ETFs. Overall, EuroCCP clears more than 30% of Europe’s cash equities, with around 40% of the trades on exchanges and venues providing three-way interoperability.