SIX x-clear, the Central Counterparty (CCP) and licensed Swiss bank, announced an agreement with Liquidnet, the premier institutional investment community, to provide exclusive clearing services for its Streaming Liquidity Participants (SLPs) in seven new markets. These participants include brokers, exchanges, and MTFs that provide additional liquidity to Liquidnet’s leading block trading platform.
SIX x-clear currently provides clearing services for Liquidnet’s SLPs in the UK, Germany, Switzerland, France and the Netherlands, and will now offer centralised clearing across the markets in Finland, Sweden, Norway, Denmark, Austria, Belgium and Portugal.
The clearing arrangement with SIX x-clear also provides Liquidnet with a comprehensive risk management framework. SIX x-clear is the only CCP to provide real-time risk management, computing risk calculations for each trade across the seven new Liquidnet markets and updating positions instantly.
Liquidnet’s block trading platform offers buy-side only access to one of the deepest pools of institutional liquidity in the market. SLPs provide Liquidnet members with additional actionable liquidity, equipping institutional investors with the greatest choice when executing block orders, all without comprising anonymity, information protection or market impact.
“Extending our service into seven new markets highlights the strength of our offering,” says Marco Strimer, CEO of SIX x-clear. “We are pleased to continue our relationship with Liquidnet and look forward to working with them as they expand their reach into new markets. Centralised clearing helps the proper functioning of a market and provides clients with the systems, comfort and confidence they need to trade efficiently, an aim shared by our partners at Liquidnet.”
D.C.