LCH S.A. Receives EMIR Authorisation
LCH S.A., LCH.Clearnet Group’s French central counterparty (CCP), today announced that it is now authorised under the European Market Infrastructure (EMIR). L’Autorité de Contrôle Prudentiel et de Résolution (ACPR), as LCH S.A.’s national competent authority, granted the authorisation on May 22 and also approved the interoperability arrangement with the Italian central counterparty CC&G.
The decision confirms that LCH S.A.'s risk management framework, technology, governance, operating model and capital meet the standards required by EMIR.
This is the final step in the authorisation process. LCH S.A. submitted its application to French regulators on 15 September 2013 and was deemed complete on 27 November.
Christophe Hémon, Chief Executive of LCH S.A. said: "Being authorised as EMIR compliant confirms the high standards of risk and operational management to which we adhere. With this major milestone now achieved we look forward to working collaboratively with our regulators, our members and their clients as we grow our business."#
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