SIX has introduced a new clearing segment that will enable clients to trade and clear US instruments through CCP – SIX x-clear – within a European operational framework.
SIX will support with extended clearing hours aligned to US market close and settlement in Depository Trust & Clearing Corporation. The initial scope will focus on S&P 500 constituents, with potential for further expansion over time.
Equiduct, a pan-European retail-focused exchange, is expected to be the first trading venue to launch under this new framework.
In a press release Michael Gort, head of Clearing, SIX described the initiative as providing pan-European clients with a more efficient route to one of the world’s most important equity markets.”
