Six purchases Norwegian central counterparty

Handshake5Six Group, owner of Switzerland’s stock exchange, is to buy Norway’s central counterparty in a move that Six says will increase interoperability in Europe. Oslo Clearing, which is owned by Oslo Børs VPS Holding ASA, is to be purchased for 180 million Norwegian kroner (€24.32 billion) and the deal is expected to close in the second quarter 2014. Oslo Clearing’s service covers equities, derivatives and securities lending. Thomas Zeeb, chief executive of Six’s securities services division, which covers post-trade services, says Oslo Clearing’s customers will benefit from Six’s single-interface access to additional markets as well as greater efficiencies and economies of scale. He says Six is at the forefront of interoperability initiatives in Europe that allow customers to benefit from greater competition and freedom of choice as to who they clear with. ©2012 funds europe

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