EuroCCP Plumps For Euroclear

EuroCCP, the pan-European central counterparty (CCP) which clears over 4,000 securities, has chosen Euroclear Bank as sole settlement provider for all US-listed equities transactions struck on Turquoise, the pan-European trading venue.

Transactions in U.S. stocks listed and traded on Turquoise will be settled on behalf of clients at Euroclear Bank in any of the 54 settlement currencies offered by the Brussels-based international central securities depository (ICSD).

Robert Barnes, Turquoise chief executive officer, says: "Turquoise already offers its customers access to 18 European markets through a single connection. Today's announcement increases the geographic diversification of the markets we offer to our customers and makes the process of trading U.S. names – as well as in a European time zone – easier than ever."