EuroCCP Clearing House Rebands to Cboe Clear Europe

EuroCCP, a subsidiary of Cboe Global Markets and one of the biggest clearing houses in Europe, announced its rebranding to Cboe Clear Europe (CCE) on Monday.

EuroCCP has been a part of Cboe since 1 July 2020, and during the last two years, it has enhanced its position as a central clearing house Clearing House A clearing house is defined as an intermediary between two parties, a buyer and seller, which helps facilitate the overall process from trade inception to settlement. Clearing houses streamline the exchange of payments, securities, or derivatives transactions.The clearing house is situated between two clearing firms who also helps reduce the risk of either member firm failing to honor their respective trade settlement obligations.Buyers and sellers enter into legally binding agreements for the e A clearing house is defined as an intermediary between two parties, a buyer and seller, which helps facilitate the overall process from trade inception to settlement. Clearing houses streamline the exchange of payments, securities, or derivatives transactions.The clearing house is situated between two clearing firms who also helps reduce the risk of either member firm failing to honor their respective trade settlement obligations.Buyers and sellers enter into legally binding agreements for the e Read this Term in the cash equities, expanding the number of cleared venues to 47 from 37. It gives the entity access to almost 95% of all European equity trades.

"Cboe's acquisition has already enabled a step-change in our business, and we feel now is the right time to rebrand as Cboe Clear Europe as we pursue continued growth wherever we can bring the most value for our venues, members and clients. It clearly demonstrates our Cboe ownership and provides us with a globally recognized brand when it comes to the services we offer," Arnoud Siegmann, the Interim President and Chief Operating Officer of Cboe Clear Europe, said.

The clearing house also supports the operations of Cboe Europe Derivatives (CEDX), CBOE's pan-European derivatives exchange. Cboe Clear Europe allows the exchange's clients to cut trading costs by clearing a wide range of equity derivatives sourced from Europe from a single clearing house.

New Acquisitions and Trading Floor

Cboe remains active on the acquisition front in 2022 as well. In May, it announced the completion of the purchase of Eris Digital Holdings (ErisX), a Chicago-based crypto exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term. It is a significant move for the platform as it allows it to take a more serious interest in the cryptocurrency industry, both spot and derivatives.

Meanwhile, June saw the acquisition of NEO, a fintech firm that consists of NEO Exchange and NEO Connect. By acquiring the Toronto-based company, Cboe wants to support its Canadian customers and its new strategy based on global ETP and corporate listings.

Later in June, a global market infrastructure provider announced the launch of a new trading floor in Chicago. It is located in the historic Chicago Board of Trade (CBOT) Building and returning to its original location from 1973.