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Is Mr Tordable the Spanish financial markets’ death threat, or their saviour?

LONDON | City and local investors in PAVE, a new Spanish secondary trading platform, must be happy to have recently got Equiduct and EuroCCP on board. Equiduct will be the electronic service provider for PAVE’s stock operations. It will connect private equity firms in Spain to the Square Mile’s capital funds and brokerage houses, which according to PAVE will allow it to reduce position fees 66 per cent and stir competition in one of the, so far, most conservative capital markets of the European Union. On the other hand, the pan-European clearing house EuroCCP will provide central cash equity clearing.