LCH implements clearing and settlement solution from LSEG Technology
LSEG Technology, the London Stock Exchange Group’s technology solutions division, has implemented its Millennium Clearing & Risk system at UK clearing house LCH.
20 million trades per day will be cleared by the new system
The new platform, focused on risk management and trade processing,will be deployed across LCH’s EquityClear service.
According to LSEG Technology, it will provide “a highly efficient, resilient and scalable” option for operations at the firm.
LSEG adds that its platform offers zero touch straight through processing (STP) and parallel real time processing using hardware acceleration. It claims that end of day processing time is significantly reduced, improving operational timeframes for all participants.
EquityClear connects to 16 trading platforms and 19 central securities depositories (CSDs) across Europe so it was “vital” that implementation of the platform was “seamless and without any disruption for members”.
The specific platform delivered to LCH is configured to clear and risk manage 20 million trades per day at a rate of 1600 trades per second.
“With the migration to the Millennium Clearing & Risk platform, LCH EquityClear is demonstrating its commitment to our members and the market by investing in a state-of-the-art resilient technology platform,” says Alex Krunic, head of equities at LCH.
“The platform offers next generation clearing, operations and risk functionality for EquityClear, increasing operational efficiencies and enabling enhanced risk.”
Related: Wematch hosts “first fully electronic” Eurex-LCH basis swap trade
