Tradeweb Partners with EuroCCP, Providing CCP for Europe ETFs

Tradeweb Markets Inc, announced this Thursday that it has partnered with EuroCCP to facilitate central counterparty clearing for European Exchange Traded Funds (ETFs).
Tradeweb Markets is a for rates, credit, equities and money markets. The collaboration with EuroCCP will help the company streamline the settlement process for its European clients, as well as reduce costs, the statement said.

The partnership between Tradeweb and EuroCCP comes at a time when regulators are trying to increasingly harmonise under the European Central Securities Depositories Regulation (CSDR).
Because of this, new Settlement Discipline procedures will need to be followed, which market participants will be subject to. These changes include cash penalties for settlement fails and mandatory buy-ins.
EuroCCP partnership to help Tradeweb support its clients
By collaborating with EuroCCP, Tradeweb will be able to better help its clients navigate these new rules as well as mitigate counterparty risk for clearing participants, the company said.