CBOE predicts that its move to acquire EuroCCP will have a positive effect on its current activities on the European market. It also expects that the takeover will allow it to develop its equity derivatives trading and clearing activities in Europe. Incidentally, in anticipation of Brexit, CBOE had already decided to base its EU market platform for shares trading in Amsterdam before the acquisition.
EuroCCP is a pan-European securities market infrastructure for the clearing of securities transactions. Part of a network of 30 European platforms, EuroCCP has 42 clearing members, one of which (ABN AMRO Clearing Bank) is based in the Netherlands. On a daily basis, EuroCCP clears 5 to 8 million transactions with a total value of EUR 30 to 40 billion. EuroCCP offers interoperability with two other CCPs: LCH Ltd in the UK and SIX x-clear in Switzerland. EMIR compliance is monitored by DNB and the AFM, in cooperation with the College of Supervisors. The acquisition of EuroCCP must be approved by the supervisory authorities.