Plus500 secures new ICE clearing membership

(Sharecast News) - Plus500 said it has secured a new clearing membership with ICE Clear Europe, part of the Intercontinental Exchange Group, one of the world's largest operators of exchanges and clearing houses for listed derivatives. "This clearing membership enables the group to strategically expand its futures business to new territories and customers, further scaling its clearing services to cover a broader range of futures products across multiple asset classes, offering customers a more seamless trading experience," it said.

The fintech group said that with this new ICE Clear Europe membership, it is now able to provide its increasingly global customer base with regulated access to European futures markets, including energy and carbon derivatives such as power, gas, and carbon futures and options.

"Building on the group's existing clearing membership with ICE Clear US, obtained earlier this year, this additional clearing membership further enhances Plus500's industry-leading infrastructure, optimises cost efficiencies and unlocks opportunities to cater to a wider, more diversified B2B customer base through an enhanced clearing offering," it said.

In recent years, Plus500 has secured clearing memberships with ICE, CME Group exchanges, Eurex and MGEX, among others.

Chief executive David Zruia said: "We are extremely pleased to secure our membership of ICE Clear Europe, which complements our existing ICE Clear US membership. As we continue to evolve into a provider of global market infrastructure, clearing memberships remain a key pillar of Plus500's growth strategy for our global futures business, and this new membership will further expand our clearing capabilities across multiple asset classes in European markets.

"It enhances our already established position in the futures market and we are rapidly gaining market share as customers - both institutional and retail - recognise the benefits of Plus500's technology-enabled, omni-channel offering, underpinned by our holistic clearing capabilities."