LCH.Clearnet has signed a further two-year contract with Rhyme Systems for the provision of facilities management and disaster recovery services through Arrow – Rhyme’s CREST connectivity solution.
LCH.Clearnet currently processes an average £10 billion a day in trades through Arrow.
Arrow processes and reports on the netted transactions from both RepoClear for the UK gilt market, and from LCH.Clearnet’s Equity Margining System for the London International Financial Futures and Options Exchange (LIFFE).
The solution automatically integrates with CREST, ensuring data is reconciled between the two systems, including stock balances and posting, CMA balances, cash positions and open positions.
“The combination of the Equity Margining System and Arrow delivers a full, end-to-end streamlined solution for LCH.Clearnet,” says Piers Farbrother, account manager for Rhyme Systems “LCH.Clearnet feeds trade data into Arrow and the information is transmitted to CREST for matching with market counterparties. Arrow then automatically retrieves information for LCH.Clearnet, from CREST, on a real time basis. It’s a brilliant example of a proven, robust straight through solution in action.”
Arrow is a CREST interface, which can be integrated with back-office systems or can be used on a stand-alone basis.