Euronext binds itself to LCH SA
August 8, 2017

Euronext, the pan-European exchange, says it has signed binding terms with LCH SA, LCH Group and London Stock Exchange Group for the continued provision of clearing services for its derivatives products.

The agreement covers the clearing of financial derivatives and commodity derivatives for a period of ten years offering comparable financial conditions. Euronext and LCH SA will work together to develop new products for the benefit of clearing members and market participants.

Euronext says it will swap its current 2.3 percent stake in LCH Group for an 11.1 percent stake in LCH SA, subject to regulatory approvals and other customary conditions. LCH SA is a multi-asset central counterparty, based in the eurozone, with substantial growth opportunities in the fixed income and credit default swaps businesses. It adds that this transaction will strengthen the long-standing relationship between Euronext and LCH SA, and cement the strategic future of LCH SA.

Euronext will remain on the Board of LCH SA following completion of the share swap. Euronext will also nominate one representative to LCH SA Audit Committee and will continue to be represented at LCH SA Risk Committee. A new Consultative Committee dedicated to Euronext derivatives business will be created.





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Euronext, the pan-European exchange, says it has signed binding terms with LCH SA, LCH Group and London Stock Exchange Group for the continued provision of clearing services for its derivatives products.

The agreement covers the clearing of financial derivatives and commodity derivatives for a period of ten years offering comparable financial conditions. Euronext and LCH SA will work together to develop new products for the benefit of clearing members and market participants.

Euronext says it will swap its current 2.3 percent stake in LCH Group for an 11.1 percent stake in LCH SA, subject to regulatory approvals and other customary conditions. LCH SA is a multi-asset central counterparty, based in the eurozone, with substantial growth opportunities in the fixed income and credit default swaps businesses. It adds that this transaction will strengthen the long-standing relationship between Euronext and LCH SA, and cement the strategic future of LCH SA.

Euronext will remain on the Board of LCH SA following completion of the share swap. Euronext will also nominate one representative to LCH SA Audit Committee and will continue to be represented at LCH SA Risk Committee. A new Consultative Committee dedicated to Euronext derivatives business will be created.



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