Europe's two largest cash equities clearing providers have finalised the terms of a landmark merger first agreed in March, bringing the region's trading industry closer to long-awaited savings on post-trade costs.

Dutch-based European Multilateral Clearing Facility, which is majority-owned by ABN Amro, and EuroCCP, a subsidiary of the Depository Trust & Clearing Corporation, today finalised a sale and repurchase agreement to form a new pan-European clearing facility.