for other uses see emcf . european multilateral clearing facility n.v. industry financial services founded 2007 2007 headquarters amsterdam netherlands key people jan booij ceo products clearing house owner abn amro 78 % nasdaq 22 % website www.emcf.com the european multilateral clearing facility emcf is a clearing house based in the netherlands for equity trades done on stock exchanges or multilateral trading facility throughout europe . it was established after the markets in financial instruments directive mifid regulations were passed by the european union allowing competition for clearing services . emcf helped reduce the cost of clearing within europe as it competed directly with the established clearing houses in each member state forcing them to reduce prices . 1 history edit the european legislation mifid implemented in november 2007 forced order flow providers to direct their flow to the venue of best execution . emcf was established to service the market for securities trading after the introduction of mifid . competition in the area has forced the slashing of fees by european clearers . emcf and its competitors lowered clearing fees several times . in 2007 chi x europe appointed emcf as their central counterparty . nowadays emcf offers services to bats europe burgundy ab cats os chi x europe first north securities nasdaqomx nordic denmark finland & sweden quote mtf and the order machine tom . also in 2008 nasdaq acquire a 22 percent equity stake in emcf from fortis bank nederland holding n.v. 2 3 3 4 5 in 2008 following fortis near bankruptcy the european central counterparty offered to clear trades instead of emcf . 6 fortis was nationalised by the dutch government to stop it failing and emcf became part of abn amro . references edit mackay tony . market turmoil plays to asx monopoly . the australian . retrieved 2009 03 10 . and fortis s european multilateral clearing facility emcf clears the trades for about half the cost of incumbent clearing houses . fairless tom 2009 03 02 . oslo bors plans clearinghouse wsj.com . wall street journal . retrieved 2009 03 10 . oslo bors s move comes four months after nasdaq omx bought a 22 % stake in dutch clearinghouse european multilateral clearing facility and agreed to use the system to clear trades in its nordic equity markets a b nasdaq omx announces fourth quarter 2008 results operating income increases 77.2 % to 180.0 million 101.6 million in q407 . 2009 02 27 . retrieved 2009 03 10 . acquired a 22 % stake in the european multilateral clearing facility n.v. emcf a leading european clearing house and signed an agreement with emcf to use its central counterparty services for all transactions executed on the nasdaq omx nordic exchanges nasdaq omx appoints emcf to handle clearing for its pan european market press release . foxbusiness.com . 2008 05 19 . retrieved 2009 03 10 . the nasdaq omx group inc. nasdaq ndaq today announced that it has selected european multilateral clearing facility emcf a wholly owned fortis subsidiary to deliver clearing services for the nasdaq omx pan european market bernard stephen 2009 02 26 . nasdaq omx group profit falls on special charges . retrieved 2009 03 10 . nasdaq has been building its revenue base over the past year . in addition to its acquisitions nasdaq also completed in 2008 four strategic investments including acquiring stakes in international derivatives clearing group and european multilateral clearing facility nv waters news euroccp readies for chi x nasdaq omx bats and more . 2008 10 01 . retrieved 2009 03 10 . european central counterparty euroccp has the capacity to process all the multilateral trading facilities mtfs that have appointed fortis bank subsidiary european multilateral clearing facility emcf as their central counterparty dead link this finance related article is a stub . you can help wikipedia by expanding it . v t e retrieved from https en.wikipedia.org w index.php title european multilateral clearing facility n.v. & oldid 644909742 categories financial services companies of the netherlandssecurities clearing and depository institutionsabn amrofinance stubshidden categories all articles with dead external linksarticles with dead external links from october 2010all stub articles navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages deutsch edit links this page was last modified on 30 january 2015 at 22 56 . text is available under the creative commons attribution sharealike license ; 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