SIX and TP ICAP Partner to Allow Clearing of TP ICAP MTF Trades on SIX x-clear

Clearing services provider SIX has partnered with market infrastructure provider TP ICAP, to allow participants of TP ICAP’s markets to clear their UK and EU MTF trades on SIX x-clear. The partnership with SIX introduces CCP clearing to TP ICAP’s trading venues for the first time.

SIX already offers clearing services to 19 different trading platforms, based in several European countries and the UK. The addition of TP ICAP’s UK & EU MTFs will increase the market coverage of SIX and allow TP ICAP members to increase their settlement efficiency even further. Compared to bilateral settlement, CCP clearing is expected to be particularly advantageous for the capital treatment, liquidity and risk aspects of high value transactions.