LCH.Clearnet launches new clearing service for Oslo Børs
Oslo Børs, the Nordic exchange, and LCH Ltd (LCH), the global clearing house, today announced that LCH is now clearing listed securities on Oslo Børs and Oslo Axess.
Through its EquityClear service, LCH now provides clearing for equities, including ETFs, listed on Oslo Børs and Oslo Axess on an interoperable basis with incumbent clearing house, Oslo Clearing.
Alberto Pravettoni, Global Head of Repo and Exchanges at LCH said: “This agreement with Oslo Børs is another example of our long-standing commitment to interoperability across the European equities market. Clearing members will benefit from margin off-sets, reduced settlement cost through cross exchange netting and access to our first class risk management and highly competitive pricing structure.”
Tom Kristoffersen, Senior Vice President, Client Relations Secondary Market at Oslo Børs said: “Oslo Børs recognises that many market participants want to see consolidation in European equities clearing and be able to choose the clearing house that best meets their requirements. We are delighted that LCH and Oslo Clearing will be working together for the benefit of our customers."
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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 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.
About Oslo Børs
Oslo Børs is the only regulated market for securities trading in Norway. Oslo Børs offers marketplaces for an extensive product portfolio that includes equities, derivatives and fixed income instruments. Oslo Børs is part of the Oslo Børs VPS group, which offers products and services for the entire securities value chain, ranging from marketplaces for listing and trade in securities, registration of ownership, and clearing and settlement of securities in Norway, through to market data and on-line solutions.
For further information, please visit http://www.oslobors.no/