Clearing choice for equities
There is now choice in the clearing of European cash equities. BATS Europe has gone live with a system which allows trades to be routed to whichever clearing house customers prefer. One of them is EuroCCP, which is "interoperable" with x-clear, the Swiss clearer, and LCH.Clearnet of the UK. Yet interoperability is still limited until other trading platforms, such as incumbent exchanges, join the party. Diana Chan, chief executive of EuroCCP says interoperability has still made appreciable inroads.