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| Market: | Cash & Derivatives |
| Products: | All |
| Date: | 07 May 2009 |
LCH.Clearnet Group Member Access (GMA)
NYSE.Technologies SFTI solution no longer available
On February 4th 2009, LCH.Clearnet announced the selection of a new connectivity provider, NYSE Technologies, for the Group Member Access program currently being implemented.
The end of the period given to Users for selecting their GMA connectivity solution (BT RadianzNet or NYSE Technologies SFTI Managed Connection) has now been reached and we thank our Users for their timely answers.
Following analyses of the resulting situation, LCH.Clearnet would like to inform customers that given the very low number of users opting for the SFTI Managed Connection solution, we have decided to withdraw this connectivity solution from the GMA options.
With only a couple of Users opting for the SFTI Managed Connection solution, LCH.Clearnet’s internal and external costs for operating this connectivity alternative are excessive and cannot be justified economically.
Indeed, LCH.Clearnet is firmly engaged on an ongoing basis in reducing the cost of our clearing services and is thoroughly controlling investments and running costs.
Therefore those customers who have opted for the NYSE Technologies connectivity solution will have to connect to LCH.Clearnet through the remaining option being BT RadianzNet.
LCH.Clearnet SA Commercial and Product Implementation teams are in contact with the customers involved to assist them.
LCH.Clearnet remains committed to delivering the Group Member Access service in the course of the coming months and would like to thank clients in advance for their understanding regarding this change and their continued support for this technical migration program.
Any questions concerning the GMA project should be directed to the LCH.Clearnet SA Product Implementation Managers:
François MARTON : +33 1 70 37 67 54, [email protected]
Benedicte FOURRIER : +33 1 70 37 65 36, [email protected]
Mykael Lemosle : +33 1 70 37 65 27, [email protected]
or your local account manager.