Trade-Date-Netting

SIX x-clear performs optional end-of-day trade date netting for a given trade date.

The novated trades are netted on a multilateral basis per clearing member and on the basis of other parameters such as house or client account, ISIN, currency, or settlement details. Multi-lateral netting of the novated trades reduces the overall settlement volumes and the respective cost to the members.

SIX x-clear Ltd provides highly parameterized netting models and offers different methods of strange net handling (strange nets arising out of trade date netting) to support the settlement requirements of various CSDs in the European market.