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LCH.Clearnet to Lose NYSE Euronext As Clearing Customer
LCH.Clearnet Group Ltd. said it was informed by NYSE Euronext that from late 2012 onward the exchange intends to begin clearing for its European securities and derivatives markets.
Roger Liddell, chief executive, LCH.Clearnet stated, “We have enjoyed a long relationship with NYSE Euronext and are looking forward to continuing to work with them until the contracts end. This is an important and exciting time for clearing with regulators and policymakers globally looking to clearing to reduce systemic risk. LCH.Clearnet is well placed to benefit from this. It has unique clearing experience and is the only clearing house with 10 years of market leading experience in clearing OTC products. We shall seek to continue to diversify our revenues as we develop new exchange and OTC initiatives.” LCH.Clearnet is a global leader in OTC clearing and the second largest clearer of fixed income products in the world.
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