EMCF to provide interoperable clearing to Turquoise
First Published 11th April 2012
Move heralds greater choice for customers
Adrian Farnham, Chief Executive, Turquoise
"We are pleased to be taking this further step towards wide-spread interoperability in Europe."
Amsterdam & London - European Multilateral Clearing Facility N.V. (EMCF), the European cash equity CCP, has announced that it is to provide interoperable clearing services to Turquoise, the European equities and derivatives trading platform. Clients can now choose EMCF as their CCP (central counter party clearing house) of choice. The decision by Turquoise to admit EMCF marks a significant step towards full interoperability within European trading platforms.
The decision is intended to enable:
- EMCF's customers to consolidate their cash equity clearing flow across all the major European MTFs (and Nasdaq OMX), bringing risk management, settlement and tariff benefits; and
- Lower total costs of trading on Turquoise for EMCF customers, giving Turquoise the opportunity to grow volumes from existing and new participants.
"We're pleased Turquoise has signed up to full interoperability with EMCF, we hope this will be first of many more platforms that looks to offer its customers the EMCF advantage," said Chief Executive Officer Jan Booij.
Adrian Farnham, Chief Executive of Turquoise, said: "We are delighted to be able to offer Turquoise clients the chance to clear with EMCF and we are pleased to be taking this further step towards wide-spread interoperability in Europe."