BATS Europe Delivers On Plan To Offer Four-Way Interoperable Clearing

BATS Europe today announced plans to offer full multilateral interoperable clearing with the addition of EMCF as a fourth interoperable CCP choice by 1^st of January 2012, pending regulatory approval.

BATS Europe was the first to offer multilateral interoperable clearing services by providing its trading participants the choice of a preferred clearer from three interoperating clearing counterparties (CCPs), including EuroCCP, LCH.Clearnet and SIX x-clear.

“We welcome EMCF to the interoperable CCP group on BATS Europe,” said Mark Hemsley, CEO of BATS Europe. “Industry feedback has been overwhelmingly positive since we launched interoperable clearing at the end of July and we are delighted to see the end goal of full multilateral interoperability become a reality.

“This has been our intention since the formation of BATS Europe and we are in a position to deliver the functionality as soon as EMCF is interoperable,” he said.

BATS Europe launched Preferred Interoperable Clearing on the 29^th of July.

EMCF is currently the default provider of clearing and settlement services for orders executed on BATS Europe.