21 February 2018
Visit www.capgemini.com/worldreports

LCH.Clearnet and EMCF agree clearing cooperation

20 May 2009  |  2210 views  |  0 Source: LCH.Clearnet

LCH.Clearnet has signed a memorandum of understanding with the European Multilateral Clearing Facility (EMCF) to introduce a user-choice clearing model.

The agreement will enable trading participants on Chi-X and BATS Europe to select the clearing house of their choice, maximising value to users whilst continuing to ensure the highest standards of risk management. LCH.Clearnet members can benefit from higher volumes which translate into lower clearing fees, now as low as 1p.

In 2003, LCH.Clearnet led the way with clearing house interoperability by successfully implementing and operating a clearing service for SIX Swiss Exchange (formerly virt-x) with SIX x-clear (formerly SIS x-clear).

Wayne Eagle, Director, Equity services said: "The agreement with EMCF highlights our long-standing commitment to interoperability across the European equities market. EquityClear offers a compelling combination of high-quality service and cost-effective pricing, which continues to drive our market share."

Commenting on the announcement, Hirander Misra, COO of Chi-X Europe, said, "We believe that the user choice offered by CCP interoperability will help lower the overall frictional costs of trading. We welcome this cooperation between LCH.Clearnet and EMCF for the benefit of the industry."

Mark Hemsley, CEO of BATS Europe said: "BATS Europe fully supports the agreement, which is a major step forward for European equities trading. The implementation of interoperability will deliver clearing choice resulting in cost efficiency and service innovation for our participants."

The deal between LCH.Clearnet and EMCF is in line with the Access and Interoperability Guidelines within the European Code of Conduct and is subject to regulatory approval.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit www.vasco.comVisit https://www.capgemini.comvisit www.nextgenbanking.co.uk

Top topics

Most viewed Most shared
ABN Amro moves escrow accounts to the blockchainABN Amro moves escrow accounts to the bloc...
10118 views comments | 15 tweets | 13 linkedin
ECB launches staunch defence of cashECB launches staunch defence of cash
9713 views 10 comments | 22 tweets | 26 linkedin
Coinbase and Visa at loggerheads over erroneous charges on customer crypto accountsCoinbase and Visa at loggerheads over erro...
8479 views comments | 13 tweets | 12 linkedin
BBVA-backed digital banking startup targets gig economy workersBBVA-backed digital banking startup target...
7149 views comments | 8 tweets | 12 linkedin
hands typing furiouslyMaking Customer Experience Your Business
6854 views 0 | 7 tweets | 5 linkedin