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Burgundy is pleased to announce its plans to introduce interoperable Central Counterparty (CCP) clearing between EMCF and SIX x-clear in May 2012. The introduction is subject to regulatory approval by the regulators of Burgundy and the respective CCPs.
“We are pleased to announce the introduction of clearing of choice. The ability to offer another clearing house to the trading participants will further improve our competitive offer in line with our aim to lower cost of trading on equity markets,” says Olof Neiglick, CEO of Burgundy.
Burgundy is also planning to add additional CCPs in order to further strengthen our Nordic trading and clearing offering.
An initial CCP service was introduced on Burgundy on 9 October 2009, with EMCF as service provider. An agreement to add SIX x-clear as a second CCP was signed November 2009. The CCP is a central hub for minimizing risk and optimizing capital usage when trading securities on Burgundy and other connected platforms.
