Deutsche Bank Becomes EuroCCP Clearing Participant

EuroCCP, the pan-European cash equities clearing house, has added Deutsche Bank Frankfurt as a general clearing participant (GCP).

As a GCP, Deutsche will clear trades on its own behalf and for other trading firms who are not EuroCCP participants.

The addition of Deutsche Bank Frankfurt increases EuroCCP’s total number of approved clearing participants to 26, 15 of which are GCPs. The firm’s 11 individual clearing participants (ICP) clear only their own trades. Deutsche Bank London is already an ICP of EuroCCP.

Diana Chan, CEO, EuroCCP, said, “Adding Deutsche Bank Frankfurt to our roster of clearing participants is a natural extension of our relationship with the bank. As the clearing house of choice for cash equities in Europe, our business continues to grow in the region.”

Dieter Bernhard, head of Direct Securities Services Germany, Deutsche Bank Frankfurt, said, “There is huge demand across Europe for efficient and lower cost clearing services. We believe that EuroCCP will continue to deliver this to its members and so we have chosen to join as a clearing participant.”