DTCC and Cboe Clear Europe introduce new clearing workflow
12 June 2024 UK, US
Image: kentoh/stock.adobe.com
DTCC has collaborated with Cboe Clear Europe, aiming to deliver an enhanced post-trade workflow for over-the-counter (OTC) cash equities trades and help increase settlement efficiencies across UK and European markets.
The companies say the offering will increase post-trade efficiencies while providing clients with the benefits of an established risk management counterparty.
They further highlight that the service will bring OTC cash equities trades into Cboe Clear Europe’s cleared environment, which can then be netted against on-exchange transactions for settlement purposes, delivering potentially significant efficiencies.
Val Wotton, managing director and general manager at DTCC Institutional Trade Processing, says: “We are pleased to be working with Cboe Clear Europe on this important initiative to bring greater post-trade efficiencies to the industry as the global markets look to accelerate to a T+1 settlement cycle.
“Cboe Clear Europe’s extensive venue coverage combined with CTM’s large client base will deliver increased operational efficiency and netting opportunities across European trading venues.”
Vikesh Patel, president at Cboe Clear Europe, comments: “This joint solution enables us to bring greater efficiencies to our clients, helping to optimise their current post-trade workflows and operational processes as the global financial markets look to accelerate settlement cycles.”
The companies say the offering will increase post-trade efficiencies while providing clients with the benefits of an established risk management counterparty.
They further highlight that the service will bring OTC cash equities trades into Cboe Clear Europe’s cleared environment, which can then be netted against on-exchange transactions for settlement purposes, delivering potentially significant efficiencies.
Val Wotton, managing director and general manager at DTCC Institutional Trade Processing, says: “We are pleased to be working with Cboe Clear Europe on this important initiative to bring greater post-trade efficiencies to the industry as the global markets look to accelerate to a T+1 settlement cycle.
“Cboe Clear Europe’s extensive venue coverage combined with CTM’s large client base will deliver increased operational efficiency and netting opportunities across European trading venues.”
Vikesh Patel, president at Cboe Clear Europe, comments: “This joint solution enables us to bring greater efficiencies to our clients, helping to optimise their current post-trade workflows and operational processes as the global financial markets look to accelerate settlement cycles.”
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