With the scale advantages of CCPs … are we up for heavy consolidation in the nearest years? Not necessarily, if the highly senior panel at PostTrade 360° Stockholm is seeing things right in its crystal ball.
Discussions were led by Rafael Plata (left), secretary general of the European Association of CCP Clearing Houses (EACH). Panel participants, from left, were
• Alex Krunic, Head of Equities, LCH
• Cécile Nagel, CEO, EuroCCP
• Marcus Harreus, CEO, SIX x-clear
• Julia Haglind, CEO, Nasdaq Clearing
• Gabriel Vimberg, Head of Derivatives Clearing, SEB
Gabriel Vimberg said he does not foresee radical change to the CCP market in the coming few years, as the current actors do contribute by knowing their clients closely.
Alex Krunic of LCH pointed out that a CCP that buys another one cannot stay certain of keeping the target’s clients. Clients often have several CCPs, and could easily move. While the market is already fairly consolidated – with a small number of CCPs providing the absolute majority of clearing in Europe – there is still a surprisingly high number of actors across the world.
”There are 77 CCPs globally. I couldn’t name ten,” joked Alex Krunic.
The agenda for PostTrade 360° Stockholm, at Hotel At Six on 20–21 February can be found here, and our editorial coverage will be gathered here.
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