22 September 2017
Find out more

LCH.Clearnet and EMCF agree clearing cooperation

20 May 2009  |  2190 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.sibos.comvisit www.capgemini.comvisit www.temenos.com

Top topics

Most viewed Most shared
HSBC switches on selfie payments in ChinaHSBC switches on selfie payments in China
12872 views comments | 27 tweets | 42 linkedin
AXA launches blockchain to cover late flight compensationAXA launches blockchain to cover late flig...
8578 views comments | 13 tweets | 27 linkedin
Apple P2P payments service nears launchApple P2P payments service nears launch
8362 views comments | 19 tweets | 27 linkedin
SBI Ripple Asia advances on South KoreaSBI Ripple Asia advances on South Korea
7761 views comments | 16 tweets | 1 linkedin
European Commission makes fintech a priority in supervisory shakeupEuropean Commission makes fintech a priori...
7645 views comments | 31 tweets | 45 linkedin

Featured job

Find your next job