The European Central Counterparty (EuroCCP) called today for the adoption of a single standard convention on interoperability that all central counterparties (CCPs) would sign so that European market participants could seamlessly choose where their trades will be cleared and settled.

The convention, designed as a framework agreement, would require CCPs to agree on risk management arrangements that are transparent to market users, platforms and regulators. EuroCCP believes the convention should be developed in collaboration with other CCPs who have already agreed to interoperate.

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