New European equity trading systems aiming to challenge the region’s main stock exchanges may be hit by increasing complexity in clearing and settlement, as providers’ “vested interests” hinder competition between them, according to a new report.

The implementation of new European Commission rules aimed at boosting competition between trading venues in November last year has made possible the establishment of new pan-European trading platforms. However, the region’s clearing and settlement companies face unprecedented challenges in supporting this changing market, according to research house Tabb Group.