The EDX joint venture between Scandinavian IT and trading technology specialists OMHEX and the London Stock Exchange means that transactions in Scandinavian derivatives traded on EDX London will be now cleared by LCH.Clearnet.
In June 2003, OMHEX and the London Stock Exchange established an international marketplace for equity derivatives, EDX London. OMHEX subsidiary Stockholmsbrsen has already been cooperating with the Norwegian and Danish derivatives markets by operating links to those markets.
The purpose of the links is to enable exchange members to trade in all Scandinavian derivative products on participating exchanges – the Oslo Exchange, the Copenhagen Exchange, EDX London and Stockholmsbrsen – through a single membership. By enabling the exchanges to offer derivative products through a common trading system (CLICK) the clearing link makes it possible to have all trades registered in the same order book.
“The clearing link between Stockholmsbrsen and LCH.Clearnet is a further step in the efforts of the Exchange to provide its customers with greater efficiency and liquidity by improving access to the Swedish derivatives market through international cooperation,” says Kerstin Hessius, President of Stockholmsbrsen.