27 January 2009

Quadriserv and Eurex Clearing co-operate on Transatlantic Central Counterparty for Securities Lending

Quadriserv and Eurex Clearing will co-operate to provide central counterparty clearing and settlement services for securities lending of European equities. It will create services for trading, clearing and settlement in UK, German and Swiss equities. 

Quadriserv, a leading North American provider of innovative securities lending services, and Eurex Clearing, Europe’s leading clearing house, announced today that they are co-operating to provide central counterparty clearing and settlement services for securities lending of European equities.

 

The partnership will initially create services for trading, clearing and settlement in UK, German and Swiss equities. Eurex Clearing, as central clearing provider, will mitigate counterparty risk and facilitate settlement processing for all clearing members. AQS will provide fully-automated trading and middle office functionality to facilitate centralized, anonymous borrowing and lending activity.

 

Quadriserv’s previously announced clearing and settlement relationship with The Options Clearing Corporation (“OCC”) for U.S. equities, which will commence U.S. operations in early 2009, and Eurex previously announced its plans to launch a securities lending clearing service with Clearstream in the second quarter of 2009.

 

Press release

 

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