Euronext.liffe’s pioneering Bclear service scooped the Innovation of the Year Award at Futures and Options World’s Clearing and Settlement Awards. The winners were determined by customer votes.
Bclear is the administration and clearing service that provides a simple and cost-effective way to register and process wholesale equity derivatives trades through Euronext.liffe to clearing at LCH.Clearnet Ltd. This reduces the counterparty credit, legal and operational risks associated with bilateral OTC deals. Bclear enables registration of both ‘standard exchange’ and ‘flexible’ trades in futures and options covering 12 country and pan-European indices as well as futures and options on over 350 European securities from 15 markets.
More than 12,500 transactions, representing over 46 million derivatives contracts, 12 million of them on German and Swiss equities, have been processed through Bclear since its launch on 24 October last year.
Euronext.liffe’s Chief Executive Hugh Freedberg said: “We would like to thank our customers, who have helped make Bclear such a success from the outset.”
