LCH.Clearnet Ltd Receives EMIR Authorisation
LCH.Clearnet Ltd, LCH.Clearnet Group’s UK-based central counterparty (CCP), today announced that the Bank of England approved its application as a central counterparty under the European Market Infrastructure Regulation (EMIR).
This is the final step in the process, which follows LCH.Clearnet S.A.’s authorisation by L’Autorité de Contrôle Prudentiel et de Résolution (ACPR) on 22 May 2014. It confirms that LCH.Clearnet Ltd's risk management framework, technology, governance, operating model and capital meet the standards required by EMIR.
Michael Davie, Chief Executive of LCH.Clearnet Ltd said: "We are delighted with this affirmation that our services are fully compliant under the EMIR rules. We have worked diligently with our regulators, our members and their clients to develop best-in-class solutions to meet the requirements and we remain fully committed to supporting the market as the European clearing mandates evolve."
For further information
Rachael Harper, LCH.Clearnet Group, Tel + 44 (0)20 7426 7175
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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 exchange group that sits at the heart of the world's financial community.