LCH Ltd – EquityClear extends its clearing services to include Borsa Italiana S.p.A

Report date

Circular No.    LCH Circular No: 4061
Date:    14 November 2019
To:    All LCH Ltd EquityClear Clearing Members


Dear Member


Further to circular 3969 issued on 10 August 2018, we are delighted to inform you that LCH Ltd (“LCH”) will offer its clearing services to cover the cash equity markets operated by Borsa Italiana S.p.A (“Borsa Italiana”).

LCH is expected to be able to offer clearing for trades executed on Borsa Italiana from Monday 13 January 2020, following the relevant regulatory notice period.

The clearing link covers the following segments and instruments:

  • Mercato Telematico Azionario – shares
  • ETFplus Market – ETFs, ETCs and ETNs; and
  • Borsa Italiana Equity MTF (the Global Equity Market segment) – shares and depositary receipts.

The clearing link will use the “Preferred CCP” model, whereby each trading firm is able to specify LCH as its preferred CCP. A trade would only be sent to LCH for clearing, if it is executed between two trading firms that have both elected LCH as their preferred CCP.

This is an important step in LCH’s efforts to continue to expand our venues and markets coverage and to bring further netting and cost efficiencies to EquityClear members.

For any questions regarding this update, please contact Ian Mackenzie Tel: + 44 (0) 20 7426 7265, email:


Yours sincerely,

Alex Krunic, Head of Equities LCH Limited