Press Release

LCH.Clearnet to clear for PLUS Markets Group

London, 23 July 2008

LCH.Clearnet has been appointed by PLUS Markets Group (PMG) to provide PMG’s first clearing facility.

LCH.Clearnet will clear for “the PLUS-pool”, a dark liquidity pool of small and mid-cap securities which will enable large institutional block orders to interact efficiently in a dark environment.  LCH.Clearnet will also clear “the PLUS-HQ”, a new “hittable quote board” designed to facilitate the on-book execution of market maker quotes via a choice of order types.

Wayne Eagle, Director Equity Services, LCH.Clearnet said; “Our selection reflects the strength of our offering; a strong commitment to cost effectiveness and unparalleled expertise. 

“We are delighted to have been selected by such an exciting partner; the PLUS market has become an established pool of liquidity and we look forward to working with them as they expand their offering.”

John Crackett, Director of Technology at PLUS Markets said; “We have an established and growing market position in small and mid-cap securities. Working with LCH.Clearnet will enable us to enhance and develop our service.”


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Editors Notes

LCH.Clearnet is the leading independent central counterparty (CCP) group in Europe serving 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.

LCH.Clearnet is owned 73.3% by users, 10.9% by exchanges and 15.8% by Euroclear.