Freedom Finance Europe (FFE) has received direct membership in the European Central Counterparty Ltd. (EuroCCP), which is one of the three largest central counterparties in Europe.
The partnership with the EuroCCP will allow FFE to guarantee their clients direct access to Europe Cboe, a leading pan-European equities exchange, and other European trading platforms.
According to Eugene Tyapkin, executive director of the company, every investment company wants to make payments and transactions through EuroCCP and Euroclear, because they offer the best stock exchange infrastructure.
«Being a direct member of the EuroCCP is an important stage for the development of the entire holding. This is proof of the strong business reputation of FFE in the financial market in Europe. All key financial entities around the globe are members of the EuroCCP,» he said.
FFE claims that the new status will allow the company to make payments and fulfill clients’ requests directly in Euroclear. The scheme doesn’t need any mediators like prime brokers and is well known for high reliability and efficiency in terms of making transactions with securities. Moreover, the EuroCCP gives protection to both parties in a trade, providing assurance to each party that the trade will settle at the agreed price in the event that one party defaults on its obligations.
Freedom Finance Europe Ltd. is a European subsidiary of the publicly traded Freedom Holding Corp. The company has official representative offices and agents in Cyprus, Germany, Spain and Greece.
Freedom Holding Corp. is a provider of retail financial brokerage, investment consulting, securities trading, investment banking and underwriting services via its Freedom Finance subsidiaries. The company is a professional participant of the Kazakhstan Stock Exchange (KASE), Astana International Exchange (AIX), Moscow Exchange (MOEX), Saint Petersburg Stock Exchange (SPB), Republican Stock Exchange Toshkent and Ukrainian Exchange. The holding headquarter is located in Almaty, Kazakhstan; its administrative offices are in Russia and the U.S. The company also runs representative offices in Ukraine, Uzbekistan, Cyprus, Germany, Azerbaijan and the U.K. Currently, the holding’s common shares have been traded on NASDAQ, KASE, SPB Exchange and Ukrainian Exchange.
Headquartered in Amsterdam, EuroCCP was formed in 2013 to provide safe and efficient equities clearing and settlement services throughout Europe. EuroCCP is approved to clear cash equities, depositary receipts, ETFs and equity derivatives (index futures and options) contracts.