Turquoise, together with EuroCCP who has partnered with Citigroup¹s Global Transaction Services business as its settlement agent, will deliver a pan-European trading facility together with a single pan-European approach to clearing and settlement. This also allows Turquoise and EuroCCP to deliver a substantial reduction in the costs of clearing and settling equity trades.

EuroCCP, the European Central Counterparty Ltd, is a subsidiary of the Depositary Trust & Clearing Corporation (DTCC) and is a UK Recognised Clearing House, headquartered in London and regulated by the FSA. European Central Counterparty Limited (EuroCCP) is a central counterparty organised to support pan-European securities trading. Through the process of novation, EuroCCP will substitute itself for all counterparties, becoming the buyer to each seller and seller to each buyer, thus assuming counterparty risk for its Participants and ensuring the settlement of trades in the event of Participant failure. EuroCCP processing also ensures anonymity for all parties from the onset of a trade through clearing and settlement.

EuroCCP will provide netting, enable anonymous post-trade processing and provide a full range of risk management services. Positions will then be passed to Citigroup's global transaction services business for settlement in the respective central securities depositories.

Participants in EuroCCP can provide services for non-clearing members.

Click here to see the latest list of General Clearing Participants.