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| Market: | SECFINEX |
| Products: | Cash |
| Date: | 20 November 2008 |
SECURITIES LENDING & BORROWING - New Service by June 2009
Announcement
Context and summary:
Early in 2007 Euronext signed an agreement to acquire a majority stake (51%) in SecFinex, an English entity which is the European electronic trading platform for securities lending and borrowing.
Launched in 2000, the SecFinex platform is based on internet technology, providing securities lending traders with access to a live price-driven marketplace.
By using LCH.Clearnet SA as a Central CounterParty, SecFinex will deliver a competitive, automated and fully integrated solution as well as a secured and organised market for securities lending and borrowing.
It will be the first time that such a market will take advantage of the services offered by a Central CounterParty.
Main advantages for Clearing Members
With this new service, LCH.Clearnet SA’s Clearing Members will:
- Accompany LCH.Clearnet SA on this innovative segment and be the first to propose clearing services on SLB activity
- Extend their service offer
- Have new Trading Member Firms
Few impacts are expected on LCH.Clearnet SA’s Clearing Members. Detailed specifications will be included in the Customer Service Offer expected in the coming weeks.
The Product Implementation team is at your disposal for any workshops or one-to-one meetings to enable you to fully appreciate this new service and start clearing this activity when the latest is launched.
Further Information:
A full presentation of the project will be organised by both SecFinex and LCH.Clearnet in mid December 2008 in London for:
- Clearing Member Firms
- ISVs
- Trading Member Firms.
If you would be interested in a presentation in another country (Belgium, the Netherlands, France or Portugal), please advise us (see contact names below).
How to Participate?
Members interested in this new service are invited:
to participate in the above mentioned project presentation (an invitation will follow in the coming days)
> Mid December 2008and to send us the attached form in order to declare their membership intention and inform us about the dedicated project and test contacts
> From today and before March 2009
For further information, please contact your LCH.Clearnet SA Product Implementation manager:
Dorothée Fresneau : +33 (0) 1 70 37 66 05 – [email protected]
or
your local Relationship Manager
Customer and Market Management LCH.Clearnet SA