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

Digital Assets

US, UK probe $20 billion Tether transfers tied to Russian exchange.

U.S. and UK authorities are investigating the movement of $20 billion in the USD-pegged stablecoin tether (USDT) through Moscow-based exchange Garantex.

Digital Assets

BlockDAG Presale Raises $9.9M as Batch 5 Nears Sell-Out Amid Bonk’s Fluctuating Trading Volume & Spell’s Bullish Price

Explore BONK’s trading volume, SPELL’s market shifts, and why BlockDAG’s 10,000 ROI makes it an ideal crypto for savvy investors in 2024.

Digital Assets

Bybit expands into Europe amid regulatory scrutiny

Dubai-based cryptocurrency exchange Bybit is expanding its operations in Europe after encountering regulatory challenges in Hong Kong.

Digital Assets

Cathie Wood’s sponsored Bitcoin ETF sees historic $200 million inflows

The ARK 21Shares Bitcoin ETF (ARKB), co-sponsored by Cathie Wood’s ARK Invest, registered historic inflows exceeding $200 million on Wednesday, signaling a robust appetite among investors for Bitcoin-centric investments.

Digital Assets

Sam Bankman-Fried might see his 25-year sentence halved

Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX, was sentenced to 25 years in federal prison by a Manhattan court on Thursday. This comes after he was convicted of defrauding customers and investors, with Judge Lewis Kaplan highlighting the potential future risks posed by Bankman-Fried.

Technical Analysis

EURJPY Technical Analysis Report 28 March, 2024

EURJPY currency pair under the bearish pressure after the pair reversed down from the major resistance level 164.25, which also stopped the sharp weekly uptrend at the end of last year,

Digital Assets

BlockDAG’s Presale Hits $9.9M, MultiversX & MINA Price Predictions Show Green

Read about BlockDAG’s promising $10 prediction and insights on MultiversX Price Prediction as MINA’s potential unfolds.

Digital Assets

Rockstar Co-Founder and All-star Line Up Join Advisory Board to Take Metacade into Post Beta Orbit

Metacade, the revolutionary Web3 gaming platform, prepares to streak out of beta with a slew of ground-breaking initiatives that will redefine the way blockchain games are developed.

Retail FX

Prop firm The Funded Trader shuts down, claims relaunch in April

Prop trading firm The Funded Trader has ceased all operations, with claims for a relaunch in the near future.

<