EuroCCP, the pan-European cash equities clearing house, and Burgundy, the Nordic exchange, today announced that EuroCCP will provide interoperable Central Counterparty (CCP) clearing to Burgundy.
EuroCCP will offer CCP clearing in securities traded on Burgundy in 2012. This is subject to approval by the regulators of Burgundy and EuroCCP.
Diana Chan, CEO of EuroCCP, said: "Our partnership with Burgundy marks another step towards providing genuine competition in the clearing of Nordic securities. This is great news for all equity traders operating in these markets.
"We are pleased to see more trading venues adopt interoperable clearing as ultimately we believe this will succeed in transforming the European equities trading landscape with all market participants enjoying the benefits of greater choice and lower costs."
Olof Neiglick, CEO of Burgundy, said: "At Burgundy, we are continuously looking to strengthen and expand our Nordic trading and clearing offer. We are delighted to be working with EuroCCP as this will help us to achieve this goal."
Burgundy offers trading in over 1,000 securities in Denmark, Finland, Norway and Sweden.