LCH Ltd opens Norwegian Krone account with Norges Bank
- Provides LCH’s UK entity with access to liquidity at the Norwegian central bank
- LCH Ltd now maintains central bank accounts in six currencies
LCH Ltd, a leading global clearing house, announced today that it has established deposit and intraday liquidity facilities with Norges Bank, the central bank of Norway. LCH is now settling its Norwegian Krone payments via the central bank.
As part of the account opening process, LCH has become a direct member of NBO, the payments system operated by Norges Bank which allows financial insititutions to settle payment obligations on a real-time gross settlement basis.
Martin Pluves, CEO, LCH Ltd, said: “As a global leader in clearing and risk management, LCH is delighted to announce the opening of this new account with Norges Bank. Adding this central bank account strengthens credit and liquidity risk management at the CCP and expands sources of liquidity, in line with international standards for financial market infrastructures.”
LCH also maintains central bank concentration accounts in Australian Dollars, Canadian Dollars, Euros, Sterling, and Swiss Francs.
For further information
Rhiannon Davies, Tel: +44 (0)20 7426 7523
Lucie Holloway, Tel: +44 (0)20 7797 1126
LCH on social media
LCH is a group of leading multi-asset clearing houses that provides proven risk management capabilities across a range of asset classes. As demand for robust clearing services continues to grow, LCH is committed to maintaining the highest standards of risk management across all our services.
As the markets’ partner, LCH operates an open access model, offering a choice of execution venues, delivering unprecedented choice and efficiencies to the marketplace.
LCH operates clearing houses around the world, with clearing houses incorporated in the UK, France and the United States with additional offices in the Asia Pacific region. It offers clearing services across asset classes including OTC and listed rates; CDS and FX; fixed income; commodities; cash equities and equity derivatives.
LCH is majority owned by London Stock Exchange Group (LSE.L), an international markets infrastructure business that sits at the heart of the world's financial community.
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