Waters Rankings 2021: Best Clearing house (clearing service provider)—Cboe Global Markets

WHY THEY WON

The Covid-19 pandemic has shined a light on the need for operational resiliency and the fact that EuroCCP cleared a record 1.12 billion trades in 2020 compared to 870 million in 2019 stood out for voters.

WHAT’S NEW

Cboe Global Markets added six new EU-based clearing members and four new EU-based trading venues in preparation for Brexit. In June 2021, the Euronext Oslo Growth market became EuroCCP’s 40th connected venue.

In July 2020, Cboe Global Markets acquired EuroCCP, allowing the clearing house to expand into clearing equity derivatives in support of Cboe Europe Derivatives, a new pan-European equity derivatives exchange scheduled to launch in September 2021.

WHAT’S TO COME 

Cboe Global Markets’ immediate focus is expanding into equity derivatives in support of Cboe Europe Derivatives, which is expected to introduce growth opportunities for Europe’s derivatives market overall, and for EuroCCP and Cboe.  

EuroCCP will initiate clearing for several new venues in 2021, by growing activity across interoperable and preferred clearing venues, as well as connecting to additional venues.

The company is expanding its ETF offering through primary and secondary market clearing in partnership with ETF issuers, ETF RFQ venues like Bloomberg and Tradeweb, and other participants in the ecosystem.