ESMA gives OK to SIX x-clear

The European Securities and Markets Authority’s board of supervisors has approved the application of SIX x-clear Ltd as a central counterparty under the European Market Infrastructure Regulation (EMIR). This is the final step in a process which dates back to an application for re-authorisation made in September 2013.

Thomas Zeeb, division chief executive officer, SIX Securities Services, described the news as excellent news and a vindication of his company’s position that its risk-models, processes and ability to provide competitive services across Europe are amongst the best available.