Euronext: signs agreement with LCH SA.
(CercleFinance.com) - Euronext has announced that it has renewed its agreement with LCH SA on the provision of derivatives and commodity clearing services for a period of ten years, in accordance with the announcement made on 8 August.
The agreement entails an exchange of Euronext's current 2.3% stake in LCH Group, against an 11.1% stake in LCH SA. Subject to a regulatory review, this deal is set to be finalised in the next few months.
The pan-European stockmarket operator will keep a place on LCH SA's board of directors. It will appoint a representative to the audit committee and will still be represented on the risk committee. An advisory committee dedicated to Euronext's derivatives business will be created.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The agreement entails an exchange of Euronext's current 2.3% stake in LCH Group, against an 11.1% stake in LCH SA. Subject to a regulatory review, this deal is set to be finalised in the next few months.
The pan-European stockmarket operator will keep a place on LCH SA's board of directors. It will appoint a representative to the audit committee and will still be represented on the risk committee. An advisory committee dedicated to Euronext's derivatives business will be created.
Copyright (c) 2017 CercleFinance.com. All rights reserved.