Beginning July 11, LCH.Clearnet SA will provide clearing services to NYSE BondMatch, the multilateral trading facility, owned and operated by NYSE Euronext and built to meet the specifications issued by Cassiopeia Committee in April 2010.
Introducing clearing to the euro-denominated bonds market enables participants to mitigate counterparty risk and benefit from straight-through processing efficiencies and is in line with regulators demands to bring more OTC products into clearing.
We wanted to bring all the benefits of clearing to the euro-denominated bond markets by improving transparency, liquidity, post-trade services and reporting, Christophe Hmon, chief executive of LCH.Clearnet SA, says. Together with NYSE Euronext we look forward to supporting the future growth of this market.
(CM)