Clearing & Settlement

Chi-X Europe offers a user driven post trade model for a more efficient European capital market. Chi-X Europe Trading Participants benefit from pre and post trade anonymity, real time risk management, netting and fungibility at the domestic Central Securities Depository (CSD).

By using a Central Counterparty (CCP) as buyer to every seller and seller to every buyer, Trading Participants are able to manage counterparty risk and cost through a CCP.

Since launch, all trades on Chi-X Europe have been novated and guaranteed by European Multilateral Clearing facility N.V (EMCF) and settled at the domestic CSD. With the introduction of SIX x-clear AG and LCH.Clearnet Ltd to the post trade model, Clearing Participants will be able to choose a CCP per market segment.