LCH.Clearnet expands clearing service 17 February 2016London Reporter: Stephanie Palmer
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LCH.Clearnet has expanded its European cash equities clearing service to offer clearing for UBS multilateral trading facility (MTF) users.
UBS MTF users will be able to clear through LCH.Clearnet from 22 February, and cash clearing will be available for users of 16 trading venues.
The move follows a 20 percent increase in equity clearing volumes over the last 12 months, and represents part of a wider commitment to the open access model.
Cécile Nagel, global head of equities and commodities at LCH.Clearnet, said: “We’re focused on building deep relationships with our members and developing our offering in line with their needs. Extending our trading venue coverage lies at the heart of our open access approach.”
“Adding UBS MTF is an important milestone in our efforts to provide choice and create efficiencies for the market.”
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