EMCF and EuroCCP Sign Sale and Purchase Agreement
![amsterdam-4 amsterdam-4](/sites/default/files/styles/landscape_750_463/public/import/IMG/040/255040/amsterdam-4-580x358.jpg.webp?itok=bAZjbB8v)
The new entity, EuroCCP NV, will be helmed by EuroCCP's CEO Diana Chan, with EMCF chief Jan Booij serving as COO. ABN Amro Clearing Bank, Nasdaq OMX, the Depository Trust and Clearing Corporation (DTCC) and BATS Chi-X are signatories to the deal, which creates a pan-European cash equities clearing firm.
Subject to regulatory approval, EuroCCP NV will utilize EuroCCP's risk-management framework and customer service apparatus, and the technology and operations backbone of EMCF.
"The signing of the sale and purchase agreement is a significant step towards launching the new CCP and demonstrates market participants' desire and support for initiatives that are pro-competition and strengthen the market's infrastructure and risk mitigation while driving down costs for users," says Chan. "We are focused on making the migration of our customers' business as straightforward as possible and are working closely with them to ensure they can fully benefit from what the new business will deliver to them."
Terms of the deal were not disclosed. The new company will be headquartered in Amsterdam, with operational units in London and Stockholm.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Emerging Technologies
This Week: Startup Skyfire launches payment network for AI agents; State Street; SteelEye and more
A summary of the latest financial technology news.
Waters Wavelength Podcast: Standard Chartered’s Brian O’Neill
Brian O’Neill from Standard Chartered joins the podcast to discuss cloud strategy, costs, and resiliency.
SS&C builds data mesh to unite acquired platforms
The vendor is using GenAI and APIs as part of the ongoing project.
Chevron’s absence leaves questions for elusive AI regulation in US
The US Supreme Court’s decision to overturn the Chevron deference presents unique considerations for potential AI rules.
Reading the bones: Citi, BNY, Morgan Stanley invest in AI, alt data, & private markets
Investment arms at large US banks are taken with emerging technologies such as generative AI, alternative and unstructured data, and private markets as they look to partner with, acquire, and invest in leading startups.
Startup helps buy-side firms retain ‘control’ over analytics
ExeQution Analytics provides a structured and flexible analytics framework based on the q programming language that can be integrated with kdb+ platforms.
The IMD Wrap: With Bloomberg’s headset app, you’ll never look at data the same way again
Max recently wrote about new developments being added to Bloomberg Pro for Vision. Today he gives a more personal perspective on the new technology.
LSEG unveils Workspace Teams, other products of Microsoft deal
The exchange revealed new developments in the ongoing Workspace/Teams collaboration as it works with Big Tech to improve trader workflows.