Cboe Clear expands SFT clearing service to US equities
08 October 2026 The Netherlands
Image: Audrey/stock.adobe.com
Cboe Global Markets has announced that Cboe Clear Europe, its pan-European clearing house, will expand its securities financing transactions (SFT) clearing service from mid-October to include US equities.
The service will initially support the clearing of US equity SFTs across the Russell 3000 Index and the top 500 US-listed exchange traded funds, with plans to expand coverage across Cboe’s full US equities trading universe of approximately 12,000 symbols.
Settlement of US securities will take place via the Depository Trust Company in line with US local best practice, with BNY acting as settlement agent.
Mirroring the service’s approach for eligible US corporate bonds and US Treasuries, clearing for US equity SFTs will initially be available only to non-US lenders and borrowers.
Through the firm’s ‘special clearing member’ model, beneficial owner lenders, such as pension funds and UCITS, can utilise the service without posting margin or contributing to Cboe Clear Europe's default fund.
The service was extended in August to include lending of fixed income instruments, such as European and US government and corporate bonds, and reached a record €14 billion in outstanding loan value during September 2026.
Vikesh Patel, global head of clearing and president of Cboe Clear Europe, says: “Expanding to offer SFTs with US equities is another major step toward our vision of a global securities lending service, and underscores our commitment to delivering innovative solutions that create meaningful capital and operational efficiencies for market participants.
“The service’s strong adoption since launch reflects the industry's growing recognition of the benefits of central clearing and our unique model.
“As we continue to broaden its coverage across asset classes and jurisdictions, we’re helping participants optimise their securities financing activities globally, while contributing to the long-term growth, resilience, and efficiency of the securities finance ecosystem.”
Jan Treuren, head of product, Cboe Clear Europe, comments: “Working closely with market participants, we have designed the service around existing workflows, settlement practices, and market conventions, making adoption as seamless as possible.”
The service will initially support the clearing of US equity SFTs across the Russell 3000 Index and the top 500 US-listed exchange traded funds, with plans to expand coverage across Cboe’s full US equities trading universe of approximately 12,000 symbols.
Settlement of US securities will take place via the Depository Trust Company in line with US local best practice, with BNY acting as settlement agent.
Mirroring the service’s approach for eligible US corporate bonds and US Treasuries, clearing for US equity SFTs will initially be available only to non-US lenders and borrowers.
Through the firm’s ‘special clearing member’ model, beneficial owner lenders, such as pension funds and UCITS, can utilise the service without posting margin or contributing to Cboe Clear Europe's default fund.
The service was extended in August to include lending of fixed income instruments, such as European and US government and corporate bonds, and reached a record €14 billion in outstanding loan value during September 2026.
Vikesh Patel, global head of clearing and president of Cboe Clear Europe, says: “Expanding to offer SFTs with US equities is another major step toward our vision of a global securities lending service, and underscores our commitment to delivering innovative solutions that create meaningful capital and operational efficiencies for market participants.
“The service’s strong adoption since launch reflects the industry's growing recognition of the benefits of central clearing and our unique model.
“As we continue to broaden its coverage across asset classes and jurisdictions, we’re helping participants optimise their securities financing activities globally, while contributing to the long-term growth, resilience, and efficiency of the securities finance ecosystem.”
Jan Treuren, head of product, Cboe Clear Europe, comments: “Working closely with market participants, we have designed the service around existing workflows, settlement practices, and market conventions, making adoption as seamless as possible.”
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