Bats Europe Unveils Clearing System

European traders will get more clearing choices after the launch of a new system byBATS Europe,金融时报》reports. The system, known as ‘preferred interoperability,’ will allow clients of BATS to select from three clearing houses,LCH.Clearnet, based in London,x-Clearof Switzerland andEuroCCP, the European clearing arm of theDepository Trust & Clearing Corporationof the U.S.

Until now, firms performing equities trades on BATS were forced to useEMCF, which has been the designated clearer for BATS since the platform was launched in 2008. EuroCCP is expected to reveal the names of a number of firms that have agreed to use EuroCCP as part of the BATS arrangement.

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