EMCF goes live with clearing for Turquoise

  • Joins EuroCCP, LCH.Clearnet and SIX x-clear
  • Promotes additional competition and customer choice

Effective today, European Multilateral Clearing Facility N.V. (EMCF) will provide clearing services for Turquoise, Europe’s fastest growing pan-European trading platform. EMCF joins EuroCCP, LCH.Clearnet and SIX x-clear in providing a wide choice of clearing options to Turquoise members for trading on its pan-European equities platform. EMCF has secured an initial customer and expects to register further participants over the coming days and weeks.

Participants can now choose, on a market by market basis, which Central Counterparty (CCP) to use to clear their business. This facilitates efficient cross-market netting opportunities for those able to consolidate their clearing business with one CCP and lowers the end-to-end cost of trading for investors.

Adrian Farnham, CEO at Turquoise said:

“Turquoise is leading the way in giving customers access to a choice of clearing provider. We were the first platform to offer the flexibility to select separate clearing houses for trading in different countries. Bringing EMCF on-board further underlines our commitment to innovation and the development of a competitive, customer-focused post trade landscape.”

Jan Booij, CEO for EMCF said:

“We are delighted that Turquoise has decided to give customers the ability to use EMCF. This will reduce the cost of trading and we expect both customers and Turquoise to benefit from the EMCF advantage.”

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For further information, please contact:

Tom Gilbert
+44 (0)20 7797 1222

Notes to editors:

About Turquoise

Turquoise Global Holdings Limited ("TGHL") is an investment firm authorised by the Financial Services Authority (FSA) of the United Kingdom. Majority owned by London Stock Exchange Group (LSEG), its shareholders also include twelve leading investment banks.

TGHL operates a multilateral trading facility ("Turquoise") with two distinct trading platforms; Turquoise Equities and Turquoise Derivatives. Turquoise Equities offers lit and dark trading services in some 2,000 securities (including equities, ETFs, GDRs and ADRs) across 19 countries in Europe and the United States. Turquoise Derivatives offers trading of single stock, index and dividend derivatives based on pan-European and International Order Book (IOB) equities.

TQ Lens, Turquoise’s liquidity aggregation service facilitates smart order routing by parsing incoming orders and distributing them according to a series of sophisticated algorithms to otherwise inaccessible, fragmented liquidity sources.

Users of the Turquoise MTF and TQ Lens benefit from fully risk-managed clearing solutions, and industry-leading market surveillance to ensure fair and orderly operations.

Membership is uniformly open to qualified firms, with members today ranging from the largest global banks and brokers to institutions with local, regional and sector focus, and specialist trading and market-making firms.

For more information, please visit www.tradeturquoise.com