The London Stock Exchange (LSE) has added EuroCCP as a clearing provider for two of its main electronic order books.
The move, which is subject to regulatory approval, is expected to take place in March next year, as the LSE looks to increase interoperability with continental Europe.
EuroCCP will become the third clearing provider of its SETS and SETSqx order books, alongside LCH.Clearnet, which the LSE owns, and Zurich-based SIX X-Clear.
“The addition of EuroCCP as a third provider of clearing services for trades executed on London Stock Exchange’s main electronic order book reaffirms our commitment to offering choice to its members, helping to drive efficiencies across the trading cycle,” said Nicolas Bertrand, head of equity and derivatives markets, London Stock Exchange Group.
SETS and SETSqx are the LSE’s two flagship electronic order books, consisting of listed securities, exchange traded funds, securitised derivatives and less-liquid securities.
EuroCCP has, alongside LCH.Clearnet and X-Clear, been working to encourage order books not currently cleared by all of Europe's three interoperable clearing houses to extend the options made available to exchange members.