Getco Selects EuroCCP for Interoperable Clearing
EuroCCP will interoperate with LCH.Clearnet and SIX x-clear for the platform, although the deal is subject to regulatory approval. GETMatched is Getco Execution Services' centrally-cleared crossing network, which matches broker orders with its European trading operation's passive flow.
"The partnership with GETCO is a natural extension of EuroCCP's presence in Europe," says Diana Chan, CEO at EuroCCP. "There is continued industry demand for competitive clearing through interoperability and the greater efficiency and lower costs it delivers to market participants. We would like to see even more trading venues follow Getco's example and expand the choice of CCPs offered to their users. We believe this is a vital step in transforming the competitiveness of the European equities trading landscape."
EuroCCP and cash equities clearing house EMCF recently agreed to merge into a single company under the EuroCCP banner. The company is a subsidiary of the Depository Trust & Clearing Corporation.
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