EDX London and LCH.Clearnet are delighted to announce the successful migration of central counterparty services from the OM London Exchange to LCH.Clearnet Ltd with effect from today.

This development is the first milestone for EDX London in enhancing its current Scandinavian business and developing new products. EDX London members will benefit from the cross product synergies and established international coverage that LCH.Clearnet is able to provide.

Arun Aggarwal, Managing Director, Business Management at LCH.Clearnet Ltd said: “This marks the first step for LCH.Clearnet in supporting the London Stock Exchange’s equity derivatives business, and we look forward to helping EDX London to expand its product range.”

Nic Stuchfield, Managing Director at EDX London said: “The migration of clearing to LCH.Clearnet provides firm foundations for our development plans. We are well advanced in our aim to deliver OTC confirmation and clearing services, the first phase of which we expect to launch in March.”

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Notes for Editors:

LCH.Clearnet

LCH.Clearnet is the leading independent central counterparty (CCP) group in Europe, serving major international exchanges and platforms, equity, exchange-traded derivatives, energy, interbank interest rate swaps markets and the majority of the Euro-denominated and sterling bond and repo markets. It aims to serve as a catalyst for further CCP consolidation in Europe.

LCH.Clearnet is owned 45.1% by exchanges, 45.1% by users, with the balance being held by Euroclear. With extensive governance rights for users and trading platforms, LCH.Clearnet is committed to operating under strict principles of non-discrimination across its customer base.

LCH.Clearnet aims to deliver services of the highest quality and set new industry standards in risk management, operational efficiency, IT systems and product development and delivery. The business model will eliminate duplication of operational and investment costs and afford greater economies of scale.

Accessing the widest range of CCP services in the world, LCH.Clearnet users will increasingly benefit from the consolidation of this broad range of markets and instruments, improving returns and freeing up capital for other activities.

EDX London

Created in 2003, EDX London combines the strength and liquidity of the London Stock Exchange with the advanced equity derivatives technology of OM HEX AB.

Members of EDX London trade futures and options on international exchanges through a common order book, making business easier and more cost effective.

EDX London is a Recognised Investment Exchange, regulated by the United Kingdom’s Financial Services Authority.

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