Tradeweb Markets and EuroCCP have collaborated to facilitate central counterparty clearing for European exchange-traded funds (ETFs).
The collaboration is expected to help streamline European clients’ settlement process and minimise costs, by facilitating pre-settle margin and netting of exposures, while still offering pan-European ETF investors the transparency and benefits afforded by the request for quote (RFQ) process.
By offering access to central clearing and settlement services via EuroCCP, Tradeweb will also help clients navigate the new rules of Settlement Discipline procedures, a part of the European Central Securities Depositories Regulation.
Enrico Bruni, head of Europe and Asia business at Tradeweb, said: “By offering our clients the ability to centrally clear European ETF trades, we are enhancing the RFQ workflow by introducing a new post-trade process to help investors minimise settlement fails and improve efficiency.”
He added: “We remain fully committed to innovative client solutions, and we are excited about this new initiative.”
Cécile Nagel, CEO of EuroCCP, commented: “Our partnership with Tradeweb allows us to expand our ETF clearing business, delivering a new and innovative service to clients which helps them to better manage the cost and risk of trading this asset class.”
