Societe Generale Securities Services (SGSS) has extended its clearing license with SIX x-clear to become a General Clearing Member on UBS MTF, the multilateral trading facility.
“We are very pleased to extend the business relation with SGSS and welcome them as a new clearer for UBS MTF, says Tomas Kindler, head of clearing relations at SIX x-clear. This move underpins the attractiveness of our offering in a contested environment, driven by our robust, real-time risk management and highly competitive fee incentive.”
Dr. Robert Barnes, CEO of UBS MTF, said: Fostering innovation and choice is part of UBS MTFs core mission. We welcome opportunities that provide UBS MTF participants with a wider selection of clearing members so they might consolidate clearing from a more extensive range of markets.
In August, EuroCCP became interoperable with the UBS MTF along with BATS Europe, allowing trading firms to clear through EuroCCP. Firms may choose from a number of clearing members when trading on the MTFs.
(CG)