EuroCCP to match trades via Traiana
EuroCCP announced today its clearing services for clients’ matching OTC transactions with Traiana. EuroCCP’s Clearing Participants can now request Traiana to forward bilaterally agreed matched transactions to EuroCCP to be centrally cleared with their activity across 18 markets.
This model will reduce counterparty risk and create significant cost savings due to netting a Clearing Participant’s on exchange and OTC transaction flows.
EuroCCP’s services provide:
- Risk mitigation, through the legal transfer of obligations
- Cost savings, through trade netting to yield lower margin requirements, fewer settlements and elimination of manual processes.
“With the successful extension of our coverage to include Traiana, we anticipate clients in the broker and investment bank sectors will increase their usage of EuroCCP’s clearing services for OTC transactions”, says Diana Chan, CEO of EuroCCP.
Roy Saadon, Head of EMEA and co-founder of Traiana said:“Traiana is very excited to work with EuroCCP. Centralised clearing of OTC equity trades will result in a more efficient and cost effective model for the equities market.”