European Multilateral Clearing Facility (EMCF) together with Burgundy, a regional multilateral trading facility (MTF), has announced the introduction of full mandatory central counterparty (CCP) clearing services for the Nordic region.
The move recognises the growth in trading in the Nordics and increasing importance of the territory to the financial industry. For traders this will provide more transparent and competitively priced services across Copenhagen, Helsinki, Oslo and Stockholm.
“Finally the Nordic countries will be on the European level with regards to trading and settlement cost competitiveness. EMCF and Burgundy have facilitated this with this launch for Nordic blue-chip equities. Together we will reduce risks and dramatically lower the cost of trading for European trading participants,” said Olof Neiglick, chief executive officer (CEO) of Burgundy.
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