LCH EquityClear goes live with LSEG post-trade tech platform

Migration to LSEG’s clearing and risk technology platform Millennium will reduce end of processing time for market participants.

By Kiays Khalil

LCH EquityClear has completed a migration to the London Stock Exchange Group’s (LSEG) Millennium clearing and risk technology platform.

The move means that LCH EquityClear can now process trades on a real-time basis with high throughput and low-latency. The Millennium platform provides zero straight through processing alongside real-time processing to reduce the end of day processing time for market participants.

“We are delighted to have successfully implemented LSEG Technology’s post-trade platform for LCH’s EquityClear service, delivering cutting edge risk management tools with zero touch straight through processing and real time processing. The platform is designed to be scalable, highly efficient and resilient,” said Ann Neidenbach, global head of LSEG Technology.

LCH revealed the platform is also configured to clear and risk manage 20 million trades per day at a throughput of 1,600 trades per second It recently processed 80 million trades sides cleared in the first five days of operation.

Alex Krunic, head of equities at LCH, commented that EquityClear connects to 16 trading platforms and 19 central securities depositories (CSDs) across Europe, meaning it was vital that implementation of the new platform was without disruption for members.

“The fact that the platform successfully processed EquityClear’s highest ever clearing volumes is a testament to the close collaboration between all parties to ensure a smooth transition,” Krunic added. “The platform offers next generation clearing, operations and risk functionality for EquityClear, increasing operational efficiencies and enabling enhanced risk management for the service.”