Freedom Finance Europe Granted EuroCCP Membership

Rhea-AI Summary

Freedom Holding Corp. (Nasdaq: FRHC) announced that its European subsidiary, Freedom Finance Europe, has gained direct membership with EuroCCP, a key player in Europe's clearing and settlement space. This membership allows for the settlement and execution of client orders through Euroclear, enhancing trade confidence and settlement reliability. This move is expected to bolster Freedom Finance Europe's reputation in the European financial market, as highlighted by Evgeny Tyapkin, executive director of Freedom Finance Europe.

Positive

• Acquisition of EuroCCP membership enhances credibility and operational capacity.
• Direct access to Euroclear improves client order execution and settlement processes.

Negative

• None.

Allows Clients of Freedom Holding’s European Subsidiary Access to Euroclear

NEW YORK & ALMATY, Kazakhstan--(BUSINESS WIRE)-- Freedom Holding Corp. (Nasdaq: FRHC) today announced that its European subsidiary, Freedom Finance Europe, has obtained direct membership with the European Central Counterparty N.V. (EuroCCP), one of the three largest counterparties in Europe.

The EuroCCP membership will allow Freedom Finance Europe, a digital financial services firm, to settle and execute client orders with Euroclear, the Belgium-based company that specializes in the settlement of securities transactions.

“EuroCCP membership provides the confidence to our clients that all trades will settle on the agreed upon price, even if one party fails to meet its obligations,” said Evgeny Tyapkin, executive director of Freedom Finance Europe. “This will solidify our reputation in the European financial market. We are pleased to join this highly respected company.”

Headquartered in Amsterdam, EuroCCP was established in 2013 to provide secure and efficient stock clearing and settlement services across Europe. The company clears stocks, depository receipts, ETFs and derivatives contracts.

About Freedom Holding:
Freedom Holding Corp. provides financial services, retail financial securities brokerage, investment counseling, securities trading, investment banking and underwriting services through its subsidiaries. The company is incorporated in Nevada and is headquartered in Almaty, Kazakhstan. The company has a presence in 14 countries, including Cyprus, the United States, Uzbekistan, the United Kingdom, and Germany. The company's shares are traded on the Nasdaq Capital Market under the ticker FRHC.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221027006081/en/

Media:

Deborah Kostroun

Phone: +1 201 403-8185

Email: Deborah@zitopartners.com

Source: Freedom Holding Corp.

FAQ

What is the significance of Freedom Holding's membership with EuroCCP?

The membership allows Freedom Finance Europe to settle and execute trades efficiently within the European market.

How does EuroCCP membership benefit clients of Freedom Holding?

It provides clients with confidence that trades will settle at agreed prices, reducing the risk of counterparty defaults.

What services does Freedom Holding Corp. provide?

Freedom Holding Corp. offers financial services including securities brokerage, investment counseling, and investment banking.

In which countries does Freedom Holding operate?

The company has a presence in 14 countries, including the United States, United Kingdom, and Germany.

Where are Freedom Holding's shares traded?

Freedom Holding's shares are traded on the Nasdaq Capital Market under the ticker FRHC.