European Central Counterparty N.V. (EuroCCP) has announced the appointment Cécile Nagel as Chief Executive Officer, starting her role in September 2018 by the time the current CEO Diana Chan steps down from office.
Founded in 2007, EuroCCP has become one of the leading pan-European equities counterparty clearing houses, with access to 26 venues including CBOE Europe, Euronext, the London Stock Exchange, Nasdaq and SIX Swiss Exchange.
EuroCCP currently clears between 5 to 8 million trade sides each day from 27 stock exchanges, multilateral trading facilities and other trade sources in Europe, totaling €30 to €40 billion in value. EuroCCP’s netting ratio is over 99.5%. The company nets away around 75% of the value traded, with an equivalent reduction in trading firms’ market exposure and liquidity costs.