Pipeline, the European block trading and specialist algorithmic trading platform, has selected EuroCCP to provide CCP services.
EuroCCP will enable anonymous post-trade processing, providing cross-margining, cross-platform netting and a full range of risk management services to Pipeline
BNP Paribas Securities Services has also been mandated to provide back-office outsourcing and settlement by Pipeline through its Clearsuite solution.
The Clearsuite range of services includes the Hybrid Clearing Model which allows both buy-side and sell-side institutions to access Pipeline Financial by offering the ability to operate both with, or without, a CCP. Pipeline Financial enables access to liquidity across 14 European markets covering over 5,000 stocks including all the main European indices as well as a range of ETFs.
The clearing and settlement solution will be available across more than 5,000 securities, covering all equity instruments in 14 countries as Pipeline continues its phased European launch over the coming months. Pipeline intends to extend this model further through the addition of more CCPs over the coming year.
Commenting on the partnership, Jason Nabi, head of Financial Intermediaries Solutions UK, BNP Paribas Securities Services said: Since the launch of our single-tier Hybrid Clearing Model for MTFs last July, we are pleased to have partnered with Pipeline Financial to provide their back-office outsourcing and settlement. As one of the most successful alternative trading systems in the US, Pipeline forms an important part of our market infrastructure strategy. We are pleased to be offering them this unique and market leading solution for their back-office requirements.