Euronext: new clearing agreement with LCH SA.
(CercleFinance.com) - Euronext and LCH SA have announced signing binding terms for the provision of clearing services for its derivatives products, an agreement which will make the Pan-European Stock Exchange group a minority shareholder of LCH SA.
It will exchange its current stake of 2.3% in LCH Group for an 11.1% stake in LCH SA, subject to regulatory approvals and any other usual conditions.
The new long-term agreement covers the clearing of financial derivatives and commodities for ten years. Euronext and LCH SA will work to develop new products and reduce clearing costs by 5%-15% from January 2019.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
It will exchange its current stake of 2.3% in LCH Group for an 11.1% stake in LCH SA, subject to regulatory approvals and any other usual conditions.
The new long-term agreement covers the clearing of financial derivatives and commodities for ten years. Euronext and LCH SA will work to develop new products and reduce clearing costs by 5%-15% from January 2019.
Copyright (c) 2017 CercleFinance.com. All rights reserved.