Clearers join forces to create pan-European system

Further evidence of rising demand for clearing following the financial crisis will emerge today as two leading providers of post-trade services unveil a new clearing mechanism for asset managers and hedge funds.

Euro CCP, a European clearer that clears for Turquoise, the equities trading platform, and Omgeo, which handles netting of trades, are to develop a pan-European equities clearing service for "buy-side" market participants.