With Clearing 21â Euronext Amsterdam derivatives clearing members benefit from a real-time clearing and netting process whereas in the former system all the information was processed over-night in batches (after the close of the market) and customers could only check their cleared positions in the morning. They also benefit from cross-margining and netting across the Euronext locations. The clearing members will also be able to improve the rationalisation of the cross-border post-trading operations.
Jean-François Théodore, Chairman and CEO of Euronext said: "The migration of all participants in Amsterdam to Clearing 21â is a major milestone in achieving Euronext's technical integration. This new step will allow our clearing customers to optimise their post-trading organization with the implementation of a single clearing platform for cash and derivatives products across all Euronext locations".
George Möller, Chief Operating Officer of Euronext said: "This is very good news for our customers since it heralds the opportunity for clearing synergies. We have significantly enlarged trading possibilities in Amsterdam products by connecting various new, international clearing members to our trading platform. Now that the Amsterdam, Brussels and Paris markets share the same clearing technology, many of our clearing members will be able to offer their services cross-border, providing our customers with greater choice".
Please click here for details of the Euronext system migration schedule.
