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.

Read this next

Industry News

Horizon Software rebrands to Horizon Trading Solutions

“Horizon Trading Solutions has seen accelerated global growth over the past year to meet the rising demand for our trading solutions and built-for-purpose technology offering. The choice to rebrand represents a key part of this development, while maintaining our heritage and history in the industry.”

Market News

USDJPY has surged to levels last witnessed in 2022. Should we consider opening a short position?

The recent resurgence of the US dollar has propelled USD/JPY to new heights, touching levels not seen since 2022. This surge comes against the backdrop of stable short-term yields and ongoing economic data that fails to signal a significant slowdown, prompting questions about the extent of current monetary easing measures.

Digital Assets

DED Trends on Twitter After Memecoin Snapshot Announcement

Polkadot-backed community coin #DED, made it to the trending charts on X, demonstrating community’s engagement and interest behind the memecoin. 

Digital Assets

BlockDAG Presale Nears $10 Million Amid Toncoin’s Momentum, Green Bitcoin’s Presale, and the Rise of Other Top Cryptos

This article will examine three top trending topics: Toncoin’s potential, Green Bitcoin’s innovative presale, and BlockDAG’s sustainable mining approach. These cryptocurrencies take centre stage for their uniqueness and innovation.

Digital Assets

Coinbase scores minor victory vs SEC, but lawsuit to proceed

A federal judge in Manhattan, U.S. District Judge Katherine Polk Failla, ruled on Wednesday that the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Coinbase can largely proceed.

Web3

COTI Teams Up with Civic for Enhanced Digital Identity Control

СOTI and Civic are teaming up to enhance digital identity security in Web3, aiming to provide users with more control over their digital selves through innovative technology.

Digital Assets

BlockDAG Takes on Chainlink (LINK) Crypto, and RON With DeFi Card and 5000x Profit Potential

Explore BlockDAG’s innovative DeFi card, which transforms cryptocurrency into spendable cash, alongside Chainlink (LINK) crypto and Ronin’s advancements.

Digital Assets

Court finally decides on Sam Bankman-Fried sentence, experts predict 20 years

Sam Bankman-Fried, the former CEO of the now-defunct cryptocurrency exchange FTX, is set to face sentencing on Thursday in a pivotal moment that could see the entrepreneur beginning a lengthy period in federal prison.

Crypto Insider

DeFi Winter Thaws: A Look at the Emerging Landscape

The past year has seen a significant shift in the Decentralized Finance (DeFi) market, transitioning from a period of decline (“DeFi winter”) to a potential season of growth.

<