The clearing house has previously implemented a similar program for SIX Swiss Exchange in 2003 with SIX x-clear.
LCH.Clearnet executive director equity services Wayne Eagle said the introduction of interoperable clearing for Turquoise is a truly positive development for the European Equities market. Choice of clearer allows customers to select the clearing house that best meets their requirements and results in lower costs and greater efficiencies.
Turquoise CEO Adrian Farnham said they are pleased that LCH.Clearnet are part of this initial phase in building a fully interoperable clearing model, one which will allow members of Turquoise to decide which clearing house they want to use. They very much believe interoperability will help drive post trade efficiencies in the European cash equity market.
