Euroclear supports the changes in ownership and governance that LCH.Clearnet is realising through its shareholder rebalancing initiative.
Accordingly, Euroclear currently intends to redeem its 15.8% stake in LCH.Clearnet, says Pierre Francotte, Euroclear chief executive officer. Euroclear remains committed to delivering greater post-trade efficiencies to mutual clients by ensuring seamless interaction between clearing and settlement.”
LCH.Clearnet Group (LCH.Clearnet) and the Euroclear group (Euroclear) jointly announce a collaborative initiative aimed at realising greater client cost savings and operational efficiencies between the cash securities clearing business of LCH.Clearnet and the custody and settlementcapabilities of Euroclear.
Joint efforts have already begun between LCH.Clearnet SA (Paris) and Euroclear. Together, the entities are analysing how Euroclear’s harmonised custody, corporate action and settlement processing capabilities can support the ongoing market-practice harmonisation of cash securitiesclearing at LCH.Clearnet. Both groups intend to explore further opportunities to deliver cost benefits to clients across Europe.
The guiding principles of the collaboration are to: (1) maximise savings for users in the post-trade life cycle process; (2) render any system changes invisible to clients; and (3) build on existing harmonised market solutions.
D.C.