Cboe Clear Europe adds crypto-backed exchange traded products (ETPs)
Pan-European clearing house Cboe Clear Europe has announced the expansion of its clearing services to include cryptocurrency-backed exchange-traded products (ETPs), following recent regulatory approval.
ETPs eligible for clearing will be required to meet specific criteria based on market capitalisation, and underlying asset availability and product types, including Bitcoin, Ethereum, Tether, XRP, and BNB. Cboe Clear Europe said that it will now work with venues that list these eligible products and look forward to sharing go-live dates in due course.
Vikesh Patel, President of Cboe Clear Europe, said,
“We are excited to broaden our clearing capabilities to encompass crypto-backed ETPs, marking another milestone in our mission to become a leading multi-asset class CCP in Europe. As an organisation deeply committed to innovation and collaboration with clients to address their needs, we’re looking forward to enhancing the ability of investors to access to this evolving asset class through a highly regulated, trusted and proven market structure framework.”
About Cboe Clear Europe
Cboe Clear Europe is a leading pan-European central counterparty (CCP) and provides safe and efficient clearing and settlement services throughout Europe. CCPs give protection to both parties in a trade, providing assurance to each party that the trade will settle at the agreed price in the event that one party defaults on its obligations. Cboe Clear Europe is the most connected CCP in Europe – offering clearing services to 46 trading venues – and is approved to clear cash equities, depositary receipts, ETFs and equity derivatives (index futures and options, and single-stock options).
The company enables Clearing Participants to manage their counterparty credit risk and also to maximise operational efficiencies through automated processing and the provision of netting opportunities. Headquartered in Amsterdam, Cboe Clear Europe is regulated by De Nederlandsche Bank and by Autoriteit Financiële Markten. It is wholly owned by Cboe Global Markets.
