LCH.Clearnet expands European cash equities clearing service
- LCH.Clearnet Ltd to offer clearing on UBS MTF from 22 February 2016
- Cash equity clearing with LCH.Clearnet will be available for users of 16 trading venues
- Equity clearing volumes have increased by over 20% over the past 12 months
- Initiative underlines LCH.Clearnet’s ongoing commitment to the open access model
LCH.Clearnet Ltd, the global clearing house, today announces a further extension of EquityClear, its European equities clearing service. From 22 February 2016, users of UBS MTF will be able to benefit from clearing via LCH.Clearnet. The addition of the multilateral trading facility will build on the recent move to offer clearing services for Nasdaq Nordic’s cash equity markets in Denmark, Finland and Sweden, and Spanish equities on pan-European MTFs.
LCH.Clearnet has been clearing Nasdaq Nordic cash equity markets since 23 November 2015. This has introduced a choice of CCP providers to the region and enables members to achieve greater efficiencies by consolidating their flows through one clearing house.
Cécile Nagel, Global Head of Equities and Commodities, LCH.Clearnet, said: “We’re focused on building deep relationships with our members and developing our offering in line with their needs. Extending our trading venue coverage lies at the heart of our open access approach. Adding UBS MTF is an important milestone in our efforts to provide choice and create efficiencies for the market.”
For further information
Rhiannon Davies, Tel: +44 (0)20 7426 7523
Lucie Holloway, Tel: +44 (0)20 7797 1126
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The LCH.Clearnet Group is a leading multi-asset class and multi-national clearing house, serving major exchanges and trading platforms as well as a range of OTC markets.
LCH.Clearnet’s world-class risk management framework provides exceptional levels of protection to international markets, as has been proven through the management of past defaults. As demand for robust clearing services continues to grow, LCH.Clearnet is committed to achieving the highest standards of risk management across all asset classes cleared.
LCH.Clearnet Group is majority owned by London Stock Exchange Group (LSE.L), a diversified international market infrastructure group that sits at the heart of the world's financial community.