LCH.Clearnet to clear for Turquoise

Eli Lederman, CEO, Turquoise, commented: "We strongly support interoperability as a means of bringing down the overall cost of trading for all market participants."

Through its EquityClear service, LCH.Clearnet will clear stocks traded by Turquoise from 15 European countries on an interoperable basis with EuroCCP. Formally launched in September 2008, the platform now offers trading in over 1,600 European securities on its integrated lit and dark market.

Wayne Eagle, Director Equity Services said: "The addition of Turquoise to our broad range of trading venues underscores our dedication to add value and security to the European equities market. Our EquityClear service offers a highly-competitive pricing structure which encourages higher volumes as they translate into lower clearing fees."

Diana Chan, CEO at EuroCCP, said, "We fully support offering market participants a choice of which CCP they want to use. Competitive clearing and interoperating with other CCPs is embedded in EuroCCP's agreements with all the trading venues we clear for. We look forward to other incumbent CCPs following our example."

Eli Lederman, CEO at Turquoise, commented: "Turquoise is dedicated to continuing to deliver high quality execution and differentiated value throughout the trading process. We strongly support interoperability as a means of bringing down the overall cost of trading for all market participants, and look forward to working with both LCH.Clearnet and EuroCCP to offer our members some of the most efficient clearing and settlement arrangements in European equities trading."