European Multilateral Clearing Facility (EMCF) is planning to begin clearing over-the-counter (OTC) trades and expand its services into structured products, Financial Times reports. EMCF has signed a deal with Citi Automated Trading Services, a bilateral trading system operated by Citigroup, for clearing of structured products, such as warrants and certificates, to the region’s largest banks and brokers.
EMCF already offers central counterparty services for cash equities in 19 European markets through nine multilateral trading facilities and exchanges, adds Mondovisione. Amsterdam-based EMCF is owned by ABN Amro Group and Nasdaq OMX Group.
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