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LSE statement on NYSE Euronext & LCH.Clearnet clearing arrangements

First Published 29th March 2012

London Stock Exchange Group statement re NYSE Euronext's European clearing strategy and long term continuation of cash equity clearing with LCH.Clearnet

London - London Stock Exchange Group plc ("LSEG") notes the announcement by NYSE Euronext regarding its European clearing strategy and LCH.Clearnet's subsequent announcement of confirmation of preliminary discussions with NYSE Euronext in respect of their clearing arrangements. LSEG notes: (i) confirmation of NYSE Euronext's intention to give 12 months termination notice to LCH.Clearnet in mid-2012 with respect to its current outsourcing arrangements with LCH.Clearnet for banking, guarantee and default management for NYSE Liffe in London; (ii) that the termination date for the clearing of NYSE Euronext's derivatives business currently cleared with LCH.Clearnet in Paris has been extended from June 2013 to the first quarter of 2014, subject to regulatory approval and finalization of precise timings with LCH.Clearnet SA; and (iii) NYSE Euronext's intention to negotiate a long term arrangement with LCH.Clearnet SA with respect to the clearing of NYSE Euronext's regulated cash markets.

LSEG welcomes NYSE Euronext's announcement of its intentions in respect of its European clearing strategy and LCH.Clearnet. LSEG's offer for LCH.Clearnet enshrines a commitment to a horizontal, open access clearing model and we look forward to working with NYSE Euronext as a valued customer of LCH.Clearnet following completion of the proposed transaction announced on 9 March 2012.