LCH.Clearnet S.A. Receives EMIR Authorisation
LCH.Clearnet 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.Clearnet 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.Clearnet 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.Clearnet 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.Clearnet 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."
For further information
Rachael Harper, LCH.Clearnet Group, Tel + 44 (0)20 7426 7175,
Anne-France Malrieu, Image 7, Tel + 33 (0)1 53 70 74 95
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.
For more information on LCH.Clearnet visit www.lchclearnet.com/media_centre