LSEG statement re NYSE Euronext's European clearing strategy & long term continuation of cash equity clearing with LCH.Clearnet
London Stock Exchange Group plc ("LSEG") notes today's announcement by NYSE Euronext regarding its European clearing strategy and LCH.Clearnet's subsequent announcement of confirmation of preliminary discussions with NYSE Euronext in respect of their clearing arrangements. LSEG notes: (i) confirmation of NYSE Euronext's intention to give 12 months termination notice to LCH.Clearnet in mid-2012 with respect to its current outsourcing arrangements with LCH.Clearnet for banking, guarantee and default management for NYSE Liffe in London; (ii) that the termination date for the clearing of NYSE Euronext's derivatives business currently cleared with LCH.Clearnet in Paris has been extended from June 2013 to the first quarter of 2014, subject to regulatory approval and finalization of precise timings with LCH.Clearnet SA; and (iii) NYSE Euronext's intention to negotiate a long term arrangement with LCH.Clearnet SA with respect to the clearing of NYSE Euronext's regulated cash markets.
LSEG welcomes NYSE Euronext’s announcement of its intentions in respect of its European clearing strategy and LCH.Clearnet. LSEG's offer for LCH.Clearnet enshrines a commitment to a horizontal, open access clearing model and we look forward to working with NYSE Euronext as a valued customer of LCH.Clearnet following completion of the proposed transaction announced on 9 March 2012.
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About London Stock Exchange Group:
London Stock Exchange Group (LSE.L) sits at the heart of the world’s financial community. The Group operates a broad range of international equity, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS, Europe's leading fixed income market; and Turquoise, offering UK and Russian derivatives trading, pan-European and US lit and dark equity trading. Through its markets, the Group offers international business unrivalled access to Europe’s capital markets.
The Group is a leading developer of high performance trading platforms and capital markets software and also offers its customers around the world access to an extensive range of real-time and reference data products and market-leading post-trade services. The Group is also home to a world leading index provider FTSE, which creates and manages of over 200,000 equity, bond and alternative asset class indices.
Headquartered in London, United Kingdom with significant operations in Italy and Sri Lanka, the Group employs around 1,850 people.
Further information on London Stock Exchange Group can be found at www.londonstockexchangegroup.com