Deutsche Börse is in talks with rival clearers about consolidation in cash equities clearing, Financial Times reports. The clearing of equities in Europe is on the verge of change as three clearing houses and their national regulators seek to build a mechanism, under which they could together provide market participants with a choice on where their trades are sent for clearing. The concept, called interoperability, has been backed since 2007 by the European Commission as a way of reducing post-trade costs across the region. Consolidation among clearers may happen first at EMCF, whose majority owner, ABN Amro, started talks last year with Depository Trust & Clearing Corporation and Euro CCP about a possible sale of its stake.
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