UBS MTF users will now be able to clear their equity trades via LCH.Clearnet’s EquityClear service, as the interoperable central counterparty (CCP) makes yet another extension of its reach.
Last year, LCH added a number of new markets to its cash equities clearing service, providing clearing for trades on pan-European MTFs in Denmark, Finland, Sweden and Spain.
UBS MTF is one of the biggest dark pools in Europe and will open up a potentially significant customer base for LCH, as well as offering greater choice for UBS MTF members.
Clearing via LCH will be avaialable on the dark pool from 22 February.
Cécile Nagel, global head of equities and commodities at LCH.Clearnet, said: “Extending our trading venue coverage lies at the heart of our open access approach. Adding UBS MTF is an important milestone in our efforts to provide choice and create efficiencies for the market.”