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London Stock Exchange Bids to Facilitate Competitive Clearing

At 11 Feb 2008 09:28:16 in ET-Exchanges, ET-News in Brief, Electronic Trading    Print Article  Email Article   Full content requires subscription 

The London Stock Exchange plans to introduce a post-trade router that will facilitate competition between clearing services. At least four central counterparties (CCPs) are expected to enter the UK market in addition to LCH Clearnet , the existing sole supplier of clearing, and the X-TRM router will support competition between them by eliminating the need to carry out reconciliation work between the CCPs on a bilateral basis. In addition, the router will provide exchange-level netting services to trading members of the London Stock Exchange, giving users a much more cost-effective way to net their SETS transactions for settlement purposes.

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