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LCH.Clearnet introduces eCCW, a new access solution for CLEARING 21®

Paris, 10 January 2008

LCH.Clearnet SA has launched a new technical initiative, eCCW, which will provide clearing members with simpler and cheaper access to CLEARING 21®.

eCCW uses new communication and security technologies. It is web based -  clients no longer require a separate dedicated workstation – and security is delivered by RSA SecurID® coded access. With this more flexible technology, LCH.Clearnet SA is both improving the quality of its service and lowering costs.

Access via the old CCW (Clearnet Clearing Workstation), which had been in service since 2002, was terminated on 7 January, following a one month conversion period during which clients were able to run both CCW and eCCW in parallel, and which gave clients time to get used to the new solution.

Commenting on the initiative, Christophe Hémon, Chief Executive at LCH.Clearnet SA, said: “By implementing eCCW, LCH.Clearnet is responding to its commitment to optimise and rationalise its processes and is demonstrating, in line with market demand, its determination to deliver a high quality service whilst maintaining firm downward pressure on costs.”

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Editors Notes

LCH.Clearnet is currently owned 67.6% by users, 17.8% by exchanges with the balance of 14.6% being held by Euroclear. Upon completion of the Euronext share buy-back programme by 2009, the Group will be owned 73.3% by users, 10.9% by exchanges and 15.8% by Euroclear.

LCH.Clearnet is committed to operating under strict principles of non-discrimination across its user base. LCH.Clearnet serves major international exchanges and platforms, equity, exchange-traded derivatives, energy, interbank interest rate swaps markets and the majority of the Euro-denominated and sterling bond and repo markets.