TP ICAP welcomes SIX’s clearing service on all its trading platforms

Rick Steves

“Their clearing service is market leading and will be advantageous to all markets participants, enabling increased transparency, sustainability, and resilience in the financial sector.”

SIX Group’s clearing services division has joined TP ICAP’s trading platforms to allow participants of the markets infrastructure provider to clear their UK and EU MTF trades on SIX x-clear.

TP ICAP operates several trading venues and partnering with SIX allows its customers to opt for CCP clearing, which is advantageous for capital treatment as well as liquidity and risk aspects, compared to bilateral settlement.

Increased transparency, sustainability, and resilience in the financial sector

José Manuel Ortiz, Head Clearing and Repo Operations at SIX, commented: “This expansion of our portfolio of connected platforms is an important step for our organization. Even more importantly, we are delighted to prove our commitment to continuously increase efficiency and create value for the benefit of our members. We see the go-live of CCP clearing at TP ICAP MTF’s as advantageous to all markets participants and we believe this will contribute to increased transparency, sustainability, and resilience in the financial sector.”

Dan Fields, CEO of Global Broking at TP ICAP, added: “We are pleased to welcome SIX to our platforms. Their clearing service is market leading and will be advantageous to all markets participants, enabling increased transparency, sustainability, and resilience in the financial sector.”

SIX already offers clearing services to 19 different trading platforms, which include both primary exchanges and multilateral trading platforms (MTFs) based in several European countries and the UK.

The addition of TP ICAP UK MTF and TP ICAP EU MTF will increase the market coverage of SIX and allow the TP ICAP members to increase their settlement efficiency even further.

Dan Fields is the new CEO of Global Broking at TP ICAP

Daniel Fields was announced as CEO of the Global Broking division in late June. He is responsible for driving further growth in the business and delivering strategic execution, including the continued rollout of TP ICAP’s electronic platform, Fusion.

Reporting directly to Group CEO, Nicolas Breteau, Daniel Fields joins TP ICAP from Altero Capital Partners, where he focused on strategic advisory and capital markets.

Having worked in capital markets for over 25 years, Daniel Fields will play the role of CEO of the Global Broking at TP ICAP after a number of top positions at industry leaders, including Global Head of Markets at Société Générale, and Global Head of Trading and Global Head of Sales in its Global Banking and Investor Solutions division.

In result of the appointment, Andrew Polydor, who has led both Global Broking and Energy & Commodities (E&C) throughout the pandemic, will return to focusing on the E&C business as CEO. George Dranganoudis will move from APAC to become Deputy CEO of E&C and EMEA CEO of E&C.

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