Monday December 9 2013
News Source: Global Exchanges
Focus: Other
Type: General
Country: European Union
EMCF and EuroCCP, two pan-European cash equities clearing houses, have announced that the transaction to combine the two entities is now complete. The combined clearing houses will form Europe`s largest cash equities central counterparty, further improving the efficiency of European equities clearing. The clearing houses had announced their intentions to merge in March 2013.
The completion of the transaction follows the approval given by the Dutch Central Bank, De Nederlandsche Bank N.V., to The Depository Trust & Clearing Corporation and BATS Chi-X Europe to become shareholders in Amsterdam-based EMCF. They join current owners of EMCF -ABN AMRO Clearing Bank and NASDAQ OMX – as equal owners of the new entity.
The name change of EMCF to European Central Counterparty N.V. will take effect from 6 January 2014.
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