SGSS Selects LCH.Clearnet For Equity Clearing

Societe Generale Securities Services (SGSS) has selected London-based LCH.Clearnet as the main clearer for its pan-European interoperable cash equities.

LCH.Clearnet’s interoperable volumes have increased by over 50% over the last 18 months, as banks increasingly transition their cash equities business onto centralized clearing platforms.

By consolidating its cash equity clearing, SGSS will also be able to streamline its default fund contributions and margin payments through one clearing house.

“We’re committed to improving efficiency for our members and the wider market. Consolidation brings multiple benefits to members in terms of cost savings and improving risk management processes,” says Cecile Nagel, global head of equities, LCH Clearnet.

“We’re delighted that SGSS has chosen to clear its cash equity business through LCH.Clearnet and we consider this a major milestone in the expansion of our global cash equities and derivatives clearing services.”