Burgundy launches competitive clearing
First Published 11th May 2012
Burgundy offers clearing choice of EMCF and SIX x-clear
Olof Neiglick, CEO, Burgundy
"We are the first Nordic exchange that offers choice in the increasingly important clearing landscape."
Burgundy has launched a competitive clearing service which enables customers to choose between European clearinghouses EMCF and SIX x-clear. As from today, customers trading on Burgundy and other European platforms offering interoperable CCP clearing can now consolidate their flow to their preferred clearinghouse. This follows the trend in Europe to introduce competition at all layers of a transaction while at the same time reducing risk.
Olof Neiglick, CEO of Burgundy, said "This is an important strategic milestone for our clients as we are the first Nordic exchange that offers choice in the increasingly important clearing landscape. In the last three years we have seen a radical transformation in the way equity trading takes place, resulting in lower transaction costs for investors. Now we are taking the next step by introducing competition also for the clearing part. Deregulation and competition are the main drivers behind service improvements and price cuts in any market - this is also the case for Nordic securities trading as the industry matures."
Burgundy offers trading in over 1,200 securities in Denmark, Finland, Norway and Sweden.