Clearing Interoperability

In February 2009, Chi-X Europe announced its intention to introduce a "user choice" clearing model following the Memorandum of Understanding (MOU) signed by European Multilateral Clearing Facility N.V. (EMCF) and SIX x-clear Ltd. to interoperate.

In May 2009, Chi-X Europe announced a further extension of its "user choice" clearing model following the Memorandum of Understanding (MOU) signed by EMCF and LCH.Clearnet Group to interoperate in the UK and Swiss market segments. In addition to the MOU signed in February between EMCF and SIX x-clear AG, this will allow Chi-X Europe to offer its participants user choice through three-way central counterparty (CCP) interoperability.

This development will allow Clearing Participants to choose a single CCP for activity relating to any given market segment for a variety of different trading venues, removing the need to fund cross margin arrangements across different CCPs. This should lower Participants' overall trading costs and enable them to manage risk more effectively. 

For further information about CCP Interoperability, please click here to download a fact sheet.

To find out more about this service, please contact Chi-X Sales or Chi-X Post Trade at:

UK & Ireland Sales
Email: uk.sales@chi-x.com

Continental Europe Sales
Email: europe.sales@chi-x.com

US Sales
Email: us.sales@chi-x.com

Post Trade
Email: post.trade@chi-x.com