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LCH.Clearnet commences new clearing service for EDX London

02 February 2004  |  750 views  |  0

EDX London and LCH.Clearnet are delighted to announce the successful migration of central counterparty services from the OM London Exchange to LCH.Clearnet Ltd with effect from today.

This development is the first milestone for EDX London in enhancing its current Scandinavian business and developing new products. EDX London members will benefit from the cross product synergies and established international coverage that LCH.Clearnet is able to provide.

Arun Aggarwal, Managing Director, Business Management at LCH.Clearnet Ltd said: "This marks the first step for LCH.Clearnet in supporting the London Stock Exchange’s equity derivatives business, and we look forward to helping EDX London to expand its product range."

Nic Stuchfield, Managing Director at EDX London said: "The migration of clearing to LCH.Clearnet provides firm foundations for our development plans. We are well advanced in our aim to deliver OTC confirmation and clearing services, the first phase of which we expect to launch in March."

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