SIX is integrating its SIX x-clear and BME Clearing platforms into a single multi-asset central counterparty (CCP) clearing house: Six Clearing.
Currently, both platforms are operated independently, with BME Clearing covering multi asset and SIX x-clear specialising in pan-European cash equities.
BME Clearing’s existing EU licence will allow SIX Clearing to access European Central Bank EUR liquidity, T2 and TS2, and European regulated markets and multilateral trading facilities.
BME was acquired by SIX in 2020.
Rafael Moral Santiago, head of securities services and executive board member at SIX, commented, “As a consolidated CCP, SIX will be able to diversify into other asset classes and expand the reach of our offering.
“With the EU license, we are in a position to become the leading provider of integrated and digital post-trade solutions for the European market and compete internationally with a unique value proposition.”
Earlier this year SIX became a preferred CCP for Euronext’s markets, competing directly with the exchange group’s in-house service – and Cboe Clear.
READ MORE: SIX uses MiFID to muscle into Euronext clearing
As of September, the European Securities and Markets Authority (ESMA) had authorised 14 CCPs across Europe. The most active of these include LCH, Eurex Clearing and Euronext Clearing.
