- CC&G will provide CCP Austria with Clearing System services across different asset classes
- No concentration risk: each entity remains fully responsible for its own CCP activity
CC&G, part of London Stock Exchange Group, and CCP Austria have today entered into a partnership agreement whereby CC&G will provide technology–driven CCP Clearing and Risk Management services to CCP Austria. The five-year agreement is customer-focused and each legal entity will remain fully responsible for its own distinct CCP activity. This agreement adds a new dimension to CCP cooperation by allowing CCP Austria to focus on its core commercial activities while utilizing CC&G’s trusted and reliable IT architecture.
Paolo Cittadini, CC&G CEO said: “CC&G is delighted to have been chosen as CCP Austria’s service provider. We see this agreement not only as a means of diversification of our revenues, but also as a way to further enhance our technology. We can serve simultaneously multiple CCPs in different geographies and with distinctive specificities, ensuring full compliance with the current European CCP regulatory framework of EMIR and abiding to world-wide CCP Principles. This agreement is a further step towards the expansion of the CC&G clearing services internationally.”
Wolfgang Aubrunner, CCP Austria CEO said: “CCP Austria’s cooperation with CC&G has been very positive so far and we are extremely pleased to further expand it. CC&G is already our current provider of the Risk Management Module which is integrated in the current Clearing System. The extension of this cooperation with CC&G will allow us to cooperate with a robust, trusted and globally well known CCP, so that we can dedicate all our resources to better serving our business community. Additionally this will allow to pool available synergies and expertise and be well prepared for future market and regulatory driven developments and to boost the role of CCP.A in the region.”
