LCH.Clearnet launches Settlement Connect for Portuguese market
29 June 2006 | 2222 views | 0
LCH.Clearnet is pleased to announce the successful launch of Settlement Connect to the Portuguese equity market.
This finalises the roll out of Settlement Connect across all Euronext markets and completes the integration and harmonisation of settlement links in the French, Belgian, Dutch and Portuguese equity markets.
The launch of Settlement Connect in the Portuguese market completes the full integration and harmonisation of LCH.Clearnet SA's clearing processes for both cash and derivatives markets.
Settlement Connect has replaced the multiple legacy interfaces previously used to communicate with each local settlement platform with a single link. Clearing members may now use Settlement Connect for all Euronext cash products.
In parallel, LCH.Clearnet is developing its equity integration programme which will, in due course, allow LSE and virt-x trades to clear through CLEARING 21 and Settlement Connect.
Christophe Hémon, Chief Executive of LCH.Clearnet SA said: "We are delighted to see the successful completion of the Settlement Connect roll out across Euronext markets. This launch offers greater business opportunities for our clearing members and opens up the Portuguese market to a wider number of market players, thus increasing liquidity on Euronext Lisbon."