EuroCCP announced its clearing services for clients’ matching Over the Counter transactions with Traiana.
Parties who clear through EuroCCP can now request Traiana to forward bilaterally agreed matched transactions to EuroCCP be centrally cleared with their activity across 18 markets.
This new partnership will reduce counterparty risk and create significant cost savings due to netting a clearing participant’s on exchange and OTC transaction flows.
“With the successful extension of our coverage to include Traiana, we anticipate clients in the broker and investment bank sectors will increase their usage of EuroCCP’s clearing services for OTC transactions,” said EuroCCP chief executive Diana Chan.
EuroCCP provides risk mitigation through the legal transfer of obligations.