EuroCCP to Clear Matching Trades from Traiana

EuroCCP has extended its OTC equity clearing services following a partnership with Traiana, a post-trade firm owned by interdealer broker ICAP.
By Joe Parsons(2147488729)
EuroCCP has extended its OTC equity clearing services following a partnership with Traiana, a post-trade firm owned by interdealer broker ICAP.

The deal allows clearing participants of the pan-European clearing house to request Traiana to forward bilaterally agreed matched transactions to EuroCCP for central clearing.

“With the successful extension of our coverage to include Traiana, we anticipate clients in the broker and investment bank sectors will increase their usage of EuroCCP’s clearing services for OTC transactions,” says Diana Chan, CEO of EuroCCP.

The partnership with Traiana is the latest by EuroCCP after it won the mandate to clear equity trades executed on the London Stock Exchange in May.

EuroCCP is one of six central counterparties in Europe authorized to clear OTC equity trades under the European Markets Infrastructure Regime (EMIR).

The move shows the continued efforts by EuroCCP to focus on its core equity clearing offering, after it ruled out venturing into the derivatives clearing business, citing a lack of synergies between cash products and equity derivatives.

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