CC&G expands CCP servicesOct 28 2013 - 16:33
- CC&G to clear EuroMOT, ExtraMOT and HI MTF markets
- Expansion of offering now includes clearing of euro-denominated bonds settled outside of Italy
- Increases range of services offered outside of Italy
CC&G today announces that it is expanding its existing CCP services to EuroMOT, ExtraMOT and HI MTF markets. CC&G will now act as the standing buyer to every seller and vice versa for bonds settled via international CSDs including Euroclear Bank Brussels and Clearstream Banking Luxembourg. The initial phase will see clearing of euro-denominated bonds. In the coming months, CC&G will also begin clearing products traded on EuroTLX, the fixed income MTF.
The service will offer clients a more efficient post-trade management process, allowing CC&G operators and customers to benefit from significant savings on settlement commissions.
The initiative is a further example of the growing international services offered by CC&G.
Paolo Cittadini, CEO of Cassa di Compensazione e Garanzia, said:
"CC&G is delighted to be able to offer clearing services in these new markets and reflects the continuing internationalization of its business. The main aim of these activities is to improve quality and efficiency of infrastructures supporting markets and post-trading services available to our customers”.
CC&G is part of London Stock Exchange Group and offers a wide range of clearing services as well as the elimination of counterparty risk. More than 70 members in the world depend on CC&G for the clearing of their transactions and those of their clients.
For further information, please contact:
Oriana Pagano Media Relations +39 02 72426.360
Federica Marotti firstname.lastname@example.org
Download the press release: (file pdf - 142 KB)