Brussels
24 February 2014
Reporter: Stephen Durham

EuroCCP chooses Euroclear for US stocks


EuroCCP has chosen Euroclear Bank, the Brussels-based international central securities depository (ICSD), as sole settlement provider for all US-listed equities transactions struck on Turquoise, the pan-European trading venue.

Under the service, transactions in US stocks listed and traded on Turquoise will be settled on behalf of clients at Euroclear in any of the 54 settlement currencies offered by the ICSD.

Robert Barnes, CEO of Turquoise, said: “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 US names—as well as in a European time zone—easier than ever.”

Yves Poullet, CEO of Euroclear Bank, said: “The proliferation of multi-lateral trading facilities post-MiFID II, such as Turquoise, has led to a whole-scale redrawing of how investors access and trade stocks. Ultimately, those venues that attract the largest pools of equity liquidity can expect to flourish in the future.”

“I am delighted to extend the current working relationship that we have for depository receipts with Turquoise and EuroCCP to US equities. Our 1300 clients can now benefit from full trade, clearing and settlement automation in blue-chip firms like Apple, Berkshire Hathaway, Exxon Mobil and Ford, to name but a few.”

More news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
OFI AM and SETL become shareholders of IZNES
23 February 2018 | Paris | Reporter: Jenna Lomax
OFI AM and SETL have been joined as shareholders of IZNES by five asset management companies
Klesia Finances goes live with NeoXam’s Density solution
23 February 2018 | Paris | Reporter: Jenna Lomax
According to Klesia, Density will assist it in facing the current French and European regulatory landscape
EBA Clearing’s RT1 hits 500,000-transaction-mark
23 February 2018 | London | Reporter: Jenna Lomax
The RT1 system passed the transaction milestone on 19 February
Liz Daniels joins FCA
23 February 2018 | London | Reporter: Becky Butcher
The Financial Conduct Authority has appointed Liz Daniels as policy advisor
Gen II exceeds $175 billion in assets under administration
23 February 2018 | New York | Reporter: Becky Butcher
Gen II Fund Services has revealed that its assets under administration have exceeded $175 billion
SANNE hires Hannah Correll Jaeger
22 February 2018 | New York | Reporter: Becky Butcher
SANNE has appointed Hannah Correll Jaeger as head of client relationship management for the Americas to support the company’s growth
Benelux trio set to strengthen collaboration on blockchain
22 February 2018 | Brussels | Reporter: Becky Butcher
B-Hive, the Luxembourg House of Financial Technology and the Dutch Blockchain Coalition have signed a memorandum of understanding to strengthen further collaboration in blockchain within the Benelux region
More news