Cboe Clear Europe (CCE) provided an overview of its 2024 key milestones and shared its plans for 2025.
CCE obtained regulatory approval in November 2024 to clear securities financing transactions (SFTs). The firm is preparing to clear the first trades and will be building out this new clearing ecosystem in collaboration with market participants throughout the year.
The firm is in advanced discussions with various firms, including banks, asset managers, broker-dealers, and and agent lenders, with a launch planned in the near future.
Vikesh Patel, president at Cboe Clear Europe, said in a statement: “Our new SFT clearing solution will revolutionize the current bilateral process for SFTs into a centrally cleared model, thereby supporting the growth of this key market. Participants will be able to reduce their risk-weighted asset exposures associated with SFTs, as well as introduce various capital and operational advantages, such as greater settlement efficiencies, elimination of agent lender disclosures, and improved practices around corporate actions. This new service underscores our dedication to providing innovative clearing solutions across multiple asset classes.”