The service allows BATS Europe and Chi-X Europe participants to choose from EMCF, EuroCCP, LCH.Clearnet and SIX x-clear to clear their trades.
BATS Chi-X Europe CEO Mark Hemsley said that their launch of interoperable clearing allows European equities traded on BATS Europe and Chi-X Europe to be cleared on a fully interoperable basis, giving their participants more choice and furthering competition amongst central counterparties (CCPs).
"This launch is the culmination of efforts by BATS Europe and Chi-X Europe, as well as the CCPs, to bring about a competitive clearing model to further reduce post-trade costs associated with European equities," added Hemsley.
BATS Europe has launched multilateral interoperable clearing service in July 2011 to provide its trading participants the choice of a preferred clearer from three interoperating CCPs, including EuroCCP, LCH.Clearnet and SIX x-clear.
