LCH.Clearnet SA has launched a new technical initiative, eCCW, which will provide clearing members with simpler and cheaper access to CLEARING 21.
eCCW uses new communication and security technologies. It is web based - clients no longer require a separate dedicated workstation - and security is delivered by RSA SecurID coded access. With this more flexible technology, LCH.Clearnet SA is both improving the quality of its service and lowering costs.
Access via the old CCW (Clearnet Clearing Workstation), which had been in service since 2002, was terminated on 7 January, following a one month conversion period during which clients were able to run both CCW and eCCW in parallel, and which gave clients time to get used to the new solution.
Commenting on the initiative, Christophe Hémon, Chief Executive at LCH.Clearnet SA, said: "By implementing eCCW, LCH.Clearnet is responding to its commitment to optimise and rationalise its processes and is demonstrating, in line with market demand, its determination to deliver a high quality service whilst maintaining firm downward pressure on costs."