Euroclear to Settle U.S. Equities from Turquoise for EuroCCP

EuroCCP has chosen Euroclear's ICSD as the sole settlement provider for all U.S.-listed equities traded on Turquoise, the pan-European trading venue majority-owned by the London Stock Exchange.
By Jake Safane(2147484770)
EuroCCP has chosen Euroclear’s ICSD as the sole settlement provider for all U.S.-listed equities traded on Turquoise, the pan-European trading venue majority-owned by the London Stock Exchange.

Users can settle the Turquoise transactions in any of the 54 settlement currencies offered by the ICSD, and clients of Turquoise and EuroCCP will not need to make any adjustments to use the service.

“Turquoise already offers its customers access to 18 European markets through a single connection. Today’s announcement increases the geographic diversification of the markets we offer to our customers and makes the process of trading U.S. names—as well as in a European time zone—easier than ever,” says Robert Barnes, CEO of Turquoise.

“The proliferation of multi-lateral trading facilities post MiFID II, such as Turquoise, has led to a whole-scale redrawing of how investors access and trade stocks. Ultimately, those venues that attract the largest pools of equity liquidity can expect to flourish in the future. I am delighted to extend the current working relationship that we have for Depository Receipts with Turquoise and EuroCCP to U.S. equities. Our 1,300 clients can now benefit from full trade, clearing and settlement automation in blue-chip firms like Apple, Berkshire Hathaway, Exxon Mobil and Ford, to name but a few,” says Yves Poullet, CEO of Euroclear Bank.

«