Clearstream and LCH EquityClear team up on new post-trade connection

Maria Nikolova

LCH Ltd-cleared equities contracts will be eligible for settlement via Clearstream.

Clearstream Banking S.A. and LCH Ltd intend to make LCH-cleared equities contracts eligible for settlement within Clearstream Banking S.A.

As part of the new connection, all global depository receipts listed on London Stock Exchange’s International Order Book, including Asia-Pacific global depository receipts, as well as the full suite of internationally settled exchange-traded products (ETPs) which are listed on the exchange’s ETP trading service, are expected to be available for settlement through Clearstream in the third quarter of 2020.

Global depository receipts have been increasingly popular, with an average daily trading turnover of USD 570 million on London Stock Exchange’s International Order Book during the first quarter of 2020. ETPs have also been continuously in demand, as investors in these products benefit from high diversification and liquidity as well as low cost.

Arnaud Delestienne, Head of Eurobonds at Clearstream, said: “This partnership demonstrates our continuous support for increased interoperability across the European post-trade landscape. Going forward, both LCH and Clearstream clients stand to benefit from operational risk reduction and increased market efficiency. This perfectly aligns with our services as issuer CSD, always offering best-in-class flexibility and investor reach.”

Alex Krunic, Head of Equities, LCH Ltd, said: “We are pleased to be working with Clearstream to offer a choice of settlement venues for EquityClear’s clearing members. Our open access philosophy and customer partnership approach enables us to work with a number of different trading platforms and settlement venues to help drive efficiencies for the market as a whole.”

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