SIX already offers clearing services to 19 different trading platforms, which include both primary exchanges and multilateral trading platforms (MTFs) based in several European countries and the UK. The addition of TP ICAP UK MTF and TP ICAP EU MTF will increase the market coverage of SIX and allow the TP ICAP members to increase their settlement efficiency even further.

José Manuel Ortiz, Head Clearing and Repo Operations, SIX, is pleased with the successful completion of the project: “This expansion of our portfolio of connected platforms is an important step for our organization. Even more importantly, we are delighted to prove our commitment to continuously increase efficiency and create value for the benefit of our members. We see the go-live of CCP clearing at TP ICAP MTF’s as advantageous to all markets participants and we believe this will contribute to increased transparency, sustainability, and resilience in the financial sector.”

TP ICAP operates several trading venues and, with this step, the possibility to opt for CCP clearing is being introduced for the first time. As transactions on TP ICAP MTF tend to be high in value, CCP clearing will be particularly advantageous for capital treatment as well as liquidity and risk aspects, compared to bilateral settlement.

Dan Fields, CEO, Global Broking, TP ICAP said: “We are pleased to welcome SIX to our platforms. Their clearing service is market leading and will be advantageous to all markets participants, enabling increased transparency, sustainability, and resilience in the financial sector."


Any questions?

Please do not hesitate to contact Jürg Schneider.

 
About SIX
SIX operates and develops infrastructure services for the Swiss and Spanish Stock Exchanges, for Post-Trade Services, Banking Services and Financial Information with the aim of raising efficiency, quality and innovative capacity across the entire value chain of the Swiss and Spanish financial centers. The company is owned by its users (120 banks). With a workforce of 3,685 employees and a presence in 20 countries, it generated operating income of CHF 1.5 billion and Group net profit of CHF 73.5 million in 2021.
www.six-group.com