LCH SA links EquityClear to Cboe Europe and Aquis Exchange Europe
24 February 2022 France
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LCH has announced that its EquityClear service at LCH SA is now linked to Cboe Europe BV and Aquis Exchange Europe.
This links the equity clearing service of its Paris-headquartered clearing arm to the two Europe-based trading, including the off-book trade reporting service BXTR offered by Cboe Europe.
The ‘preferred CCP’ clearing model enables users to clear through LCH SA provided that both counterparties have nominated SA as their preferred CCP.
By linking to Cboe Europe and Aquis Exchange Europe, firms trading on these execution venues, as well as those trade reporting to BXTR, can clear and settle transactions on LCH SA according to the preferred model alongside their trading activity on Cboe UK, Turquoise Europe and Turquoise UK.
This provides opportunity for users to benefit from netting, margining and operational efficiencies at SA in a European and UK clearing environment facing further reconfiguration in the wake of Brexit.
Ivan Gilmore, head of cash equities at LCH Ltd and SA, says: “Through our Paris-based clearing house, EquityClear SA is focused on ensuring our customers continue to benefit from the largest pool of liquidity in cleared European equities.
“These connections are part of our strategy to expand the trading venues available to our clearing members. Increasing the options for our customers regarding where they trade and clear enables greater opportunities for capital and operational efficiencies.”
Natan Tiefenburn, head of equities at Cboe Europe, says: “Providing a trade feed to LCH SA’s EquityClear service demonstrates Cboe Europe’s commitment to open access and competition."
In Q4 21, LCH SA expanded its sponsored clearing model to include Euro repo clearing.
This links the equity clearing service of its Paris-headquartered clearing arm to the two Europe-based trading, including the off-book trade reporting service BXTR offered by Cboe Europe.
The ‘preferred CCP’ clearing model enables users to clear through LCH SA provided that both counterparties have nominated SA as their preferred CCP.
By linking to Cboe Europe and Aquis Exchange Europe, firms trading on these execution venues, as well as those trade reporting to BXTR, can clear and settle transactions on LCH SA according to the preferred model alongside their trading activity on Cboe UK, Turquoise Europe and Turquoise UK.
This provides opportunity for users to benefit from netting, margining and operational efficiencies at SA in a European and UK clearing environment facing further reconfiguration in the wake of Brexit.
Ivan Gilmore, head of cash equities at LCH Ltd and SA, says: “Through our Paris-based clearing house, EquityClear SA is focused on ensuring our customers continue to benefit from the largest pool of liquidity in cleared European equities.
“These connections are part of our strategy to expand the trading venues available to our clearing members. Increasing the options for our customers regarding where they trade and clear enables greater opportunities for capital and operational efficiencies.”
Natan Tiefenburn, head of equities at Cboe Europe, says: “Providing a trade feed to LCH SA’s EquityClear service demonstrates Cboe Europe’s commitment to open access and competition."
In Q4 21, LCH SA expanded its sponsored clearing model to include Euro repo clearing.
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