JP Morgan's GlobeClear business is now offering third party clearing and settlement services for trades executed on the SmartPool and NYSE Arca Europe trading platforms.

SmartPool Trading is a pan-European multilateral trading facility (MTF) and dark liquidity pool covering 15 markets created by NYSE Euronext in partnership with JP Morgan, HSBC and BNP Paribas. NYSE Arca Europe, another pan-European MTF and integrated with NYSE Euronext, provides access to the most liquid securities in 11 markets.

By extending this service GlobeClear now supports 29 trading venues including five MTFs, three of which are cleared through EuroCCP and/or LCH Clearnet as central counterparties.

This means clients trading on these MTFs can opt for cross-platform netting which could reduce net settlement costs.