Further to Market Notice 154/25 dated 24 December 2025 announcing the launch of commission-free trading for US-listed equities in US dollars effective 1 June 2026, Equiduct is pleased to confirm the appointment of the two central counterparties (CCPs) that will support clearing for its new US segment.
Appointed CCPs
Clearing for all trades executed on the XEQU segment will be provided by two fully interoperable CCPs:
- SIX x-clear AG
- Cboe Clear Europe NV
Equiduct members who wish to trade US instruments in US Dollars may connect to either CCP. The interoperable model ensures that trades between participants clearing through different CCPs can match and clear without friction. No technical changes are required to existing clearing arrangements for European equities activity on XEQT.
Extended CCP Operating Hours
Both CCPs will extend their operating schedules to support Equiduct’s extended US trading window. A second End-of-Day processing cycle will be introduced after the close of the US trading session, in addition to the existing End-of-Day cycle covering European activity. Settlement instructions will be submitted to DTCC on trade date (T+0), with settlement taking place at DTCC on T+1.
Post-Trade Economics
A full breakdown of the post-trade cost model for the US segment, including a cost comparison against standard intermediary benchmark arrangements, will be published separately. Members wishing to receive an individual simulation of their execution-to-settlement costs based on their expected US activity are encouraged to contact the Equiduct Sales Team.
Next Steps
Equiduct will continue to publish further operational and technical details ahead of the 1 June 2026 go-live date.
- UAT environment available: 1 May 2026
- Production go-live: 1 June 2026
Clients requiring technical documentation or UAT access, please contact Equiduct Market Control at: marketcontrol@equiduct.com.
Clients requiring commercial details or execution-to-settlement cost simulations, please contact the Equiduct Sales Team at: growth@equiduct.com
Clients with queries related to clearing connectivity or CCP onboarding, please contact your respective CCP relationship manager directly.
