EuroCCP is to clear trades executed on Frankfurter Wertpapierbörse (FWB), the Frankfurt Stock Exchange, from 11 November 2019.
EuroCCP’s clearing services are now available on a central counterparty clearing house (CCP) basis for trades in cash equities and exchange-traded funds (ETF) executed on Xetra, an all-electronic trading system, operated by Deutsche Börse.
With the addition of FWB, EuroCCP has extended its clearing access to over 95 percent of cash equity trades executed on organised markets in Europe.
EuroCCP finalised agreements last year to clear trades executed on exchanges including Oslo Børs, Borsa Italiana and Euronext Dublin.
Earlier this year, EuroCCP announced it will clear European ETFs on Tradeweb.
Cécile Nagel, CEO of EuroCCP, commented: “Open access and competitive clearing have been essential drivers of post-trade simplicity and efficiency, and we are pleased to be able to extend our services to firms executing trades on FWB.”
She added: “This is a key milestone in pan-European equities clearing and will allow clearing members to consolidate more flow, reducing complexity and leading to significant operational, netting and cost efficiencies.”
