LCH.Clearnet begins clearing for Turquoise

Source: LCH.Clearnet

LCH.Clearnet Ltd (LCH.Clearnet), the leading independent clearing house, has launched interoperable clearing across 17 countries for Turquoise, the independent pan-European equity trading platform.

Turquoise was established in 2008 to engender greater competition in the secondary trading of European equities, and offers a combination of innovative services, superior technology and competitive pricing.

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

Wayne Eagle, Executive Director Equity Services said: "The introduction of interoperable clearing for Turquoise is a truly positive development for the European Equities market. Choice of clearer allows customers to select the clearing house that best meets their requirements and results in lower costs and greater efficiencies. With EquityClear's highly competitive pricing structure and robust risk management standards, we are confident that customers will recognise the benefits of choosing LCH.Clearnet."

Adrian Farnham, CEO of Turquoise said: "We are pleased that LCH.Clearnet are part of this initial phase in building a fully interoperable clearing model, one which will allow members of Turquoise to decide which clearing house they want to use. We very much believe interoperability will help drive post trade efficiencies in the European cash equity market." 

Comments: (1)

Alan Jenkins
Alan Jenkins - Jenkins UK Limited - London 18 November, 2011, 13:28Be the first to give this comment the thumbs up 0 likes

It's great to see another milestone reached in the development of interoperability - Alan J. (virt-x program director, 2002-3)