What We Clear

EquityClear is an all-in-one solution for cash equities and cash equities equivalents clearing

Cash Equities at EquityClear

Cash equities are the lifeblood of EquityClear – they are at the heart of our entire service offering.

Regardless of the type of trading venue where you are executing your equities positions, you’ll be able to clear them with us. These platforms include:

  • Recognised Investment Exchanges (RIEs)
  • Multilateral Trading Facilities (MTFs)
  • Over-the-Counter Matching Services

In addition, trades originating within or outside of an order book are eligible to clear on the platform.

Cash Equities Equivalents

Complementing our cash equities clearing services, EquityClear also offers a comprehensive suite of clearing options for cash equities equivalent instruments. These products include:

  • Exchange Traded Funds (ETFs)
  • Exchange Traded Commodities (ETCs)
  • Depositary Receipts
Contracts for Difference

LCH Limited is the leading European equity central counterparty, providing its members the ability to clear Centrally Cleared Contract for Differences (ccCFDs).  LCH is the first European clearing provider to offer clearing services for CFDs and the first clearer globally to offer clearing for combined CFD equity trades, where the cash equity orders can directly trade against ccCFDs.

The service is line with the European Commissions' aim to increase the proportion of cleared OTC contracts, and still enables investors to access the best market price for a trade while benefiting from all the advantages that central clearing offers. This includes reduced counterparty risk, margin offsets and collateral efficiencies. Members also benefit from major cost and process efficiencies and give-up functionality.

EquityClear Venues

EquityClear offers clearing services for cash equities and/or cash equities equivalents executed on an extensive number of trading venues.

You can find information on EquityClear eligible execution venues, and the products we clear on our service below:

Aquis MTF

EquityClear offers clearing services to members of Aquis Exchange, which is set to transform the European trading landscape by its introduction of subscription pricing and innovative order types. Products acceptable for clearing are:

EquityClear Ltd clears cash equities from Aquis Exchange for the following markets: Austria, Belgium; Denmark; Finland; France; Germany; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland and United Kingdom.

All trades settle in the respective CSDs for each market segment.

Cboe Europe Equities (formally known as BATS Europe and operator of BATS and Chi-x order books)

EquityClear Ltd offers interoperable clearing services for Cboe, the pan-European equity trading platform, across 16 countries.

EquityClear Ltd clears cash equities and cash equity equivalents for the following markets: Austria; Belgium; Denmark; Finland; France; Germany; Ireland; Italy; Depositary Receipts; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland and United Kingdom.

All trades settle in the respective CSDs for each market segment.

Equiduct

Equiduct Trading provides a MiFID compliant, integrated pan-European single point of connectivity for trading services through the Regulated Market operated by Börse Berlin.

EquityClear Ltd clears cash equities from Equiduct for the following markets: Denmark; Finland; Germany; Italy; Spain, Sweden; Switzerland and United Kingdom.

All trades settle in the respective CSDs for each market segment.

London Stock Exchange (LSE SETS, LSE IOB, LSE IET)

EquityClear Ltd provides clearing services for all order book trades in stocks, ETFs and ETCs on the London Stock Exchange (LSE), with coverage across SETS, SETSqx and AIM securities. All trades executed on SETS settle in Euroclear UK & Ireland and all trades executed on IOB and IET settle in Euroclear Bank.  Products acceptable for clearing are:

Single company cash equities and equivalents such as:

  • Exchange traded funds (ETFs)
  • Exchange traded commodities (ETCs)
  • Depositary Receipts
     

London Stock Exchange Derivative Markets (LSEDM)

LCH Ltd provides clearing and settlement services to the London Stock Exchange Derivatives Market which operates as part of a Regulated Market of a Recognised Investment Exchange (RIE).

The following products are offered:

  • Equity derivatives products include single stock, index and dividend derivatives based on United Kingdom, International Order Book (IOB), Norwegian and Turkish underlyings.
     

For further Information on LSEDM Equity markets click here

The London Stock Exchange Derivatives Market offers trading of single stock, index and dividend derivatives based on Pan-European and International Order Book (IOB) equities. The platform has a strategic relationship with Oslo Børs to offer their respective members access to each others' markets, order book and liquidity in respect of a selected range of products.

By clearing through LCH, London Stock Exchange Derivative Market clearing members benefit from multilateral netting, counterparty risk management, straight through processing and counterparty anonymity.
 

NASDAQ

LCH Ltd offers interoperable clearing services for cash equity trades executed on Nasdaq Copenhagen, Nasdaq Stockholm, Nasdaq Helsinki and Nasdaq First North.

LCH Ltd offers clearing services to Nasdaq through its EquityClear service, whereby clearing members benefit from margin offsets and collateral efficiencies from centralised clearing. Members also benefit from reduced clearing costs with increased volumes through the member specific incremental tariff.

Nasdaq provides its participants with transformative technologies for the entire lifecycle of the trade - from risk management and trade surveillance to clearing. Their robust trading technology is able to process more than 1 million messages per second at sub-55 microsecond average speeds with 99.99% uptime. Their award-winning data products and worldwide indexes are the benchmarks in the financial industry. Nasdaq Nordic is the home of approximately 720 listed companies.

First North operates in parallel to the Main market but with requirements especially suited for growth companies. First North makes it simple to gain the full benefits of being public, as it is easy for companies to join and be listed there. First North is often seen as the first step into the financial market and approximately 5 companies/year moves to the Main market as they grow and have the ability to fulfil the requirements on the Main Market.

For further information relating to products and services Nasdaq has to offer please access their website: www.nasdaq.com

Oslo Bors

EquityClear Ltd offers interoperable clearing services for cash equity trades executed on Oslo Bors and Oslo Axess. Products acceptable for clearing are:

Single company cash equities

All trades settle in VPS Norway.

Sigma X MTF

EquityClear Ltd provides clearing services to Sigma X MTF, Goldman Sachs’ multilateral trading facility. 

EquityClear Ltd clears cash equities from SIGMA X MTF for the following markets: Austria; Belgium; Denmark; Finland; France; Germany; Ireland; Italy; Depositary Receipts; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland and United Kingdom.

All trades settle in the respective CSDs for each market segment.

SIX Swiss Exchange

EquityClear Ltd provides clearing services for order book, off-order book, block trades and European equity traded securities on the SIX Swiss Exchange. Products acceptable for clearing are:

Single company cash equities and equivalents such as:

Exchange traded funds (ETFs)
Exchange traded commodities (ETC)

All trades settle in SIS

Traiana

EquityClear offers members clearing of OTC equity trades from the Traiana Harmony CCP Connect for Equities service, a trade matching service for OTC business. Such trades will include equity contract for difference (CFD) related hedging trades. Products acceptable for clearing are:

EquityClear Ltd clears cash equities from Traiana for the following markets: Austria; Belgium; Denmark; Finland; France; Germany; Italy; Depositary Receipts; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland and United Kingdom.

All trades settle in the respective CSDs for each market segment

Turquoise

EquityClear Ltd offers interoperable clearing services for Turquoise, the independent pan-European equity trading platform, across 19 countries.

EquityClear Ltd clears cash equities from Turquoise for the following markets: Austria; Belgium; Czech Republic; Denmark; Finland; France; Germany; Hungary; Ireland; Italy; Depositary Receipts; Netherlands; Norway; Poland; Portugal; Spain; Sweden; Switzerland and United Kingdom.

All trades settle in the respective CSDs for each market segment.

UBS MTF

EquityClear offers clearing services to members of UBS MTF, a non-displayed multilateral trading facility, featuring a Central Counterparty (CCP) model, in order to help users manage settlement costs and potential counterparty risks.

EquityClear Ltd clears cash equities from UBS MTF for the following markets: Austria; Belgium; Czech Republic; Denmark; Finland; France; Germany; Hungary; Ireland; Italy; Depositary Receipts; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland and United Kingdom.

All trades settle in the respective CSDs for each market segment.

BlockMatch MTF

BlockMatch® is a Multilateral Trading Facility, operated by Instinet Europe Limited, which is authorised and regulated by the UK Financial Conduct Authority, pursuant to the Regulation on Markets in Financial Instruments (600/2014) and the Directive on Markets in Financial Instruments (2014/65/EU) (“MiFID II”).   BlockMatch Central Limit Order Book, operates at the Midpoint Reference Price within the current bid and offer prices or when the price is not available, the opening or closing price of the Market of Reference. 

EquityClear Ltd offers clearing services for the MTF across 16 countries.  These include: Austria; Belgium; Denmark; Finland; France; Germany; Ireland; Italy; Depositary Receipts in Euroclear Bank; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland and United Kingdom.