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Central Counterparty


The Exchange uses central counterparties (CCPs) as shown in the table below:

Market

SETS and SETSqx

IOB (launched 2009)

CCP

LCH. Clearnet Ltd. And SIX x-clear AG

LCH. Clearnet Ltd.

A list of the equities cleared by LCH.Clearnet Ltd can be found here.

Choice of CCP

The Exchange has introduced a choice of CCP for equity trades on the SETS and SETSqx market. Customers can choose to clear their trades through either LCH.Clearnet Ltd or SIX x-Clear AG. It does not matter whether the trading counterparty is using the same or a different CCP.

The approach used is consistent with the European Code of Conduct for Clearing and Settlement's peer-to-peer interoperability model.

An overview of how competitive clearing works is provided by the Service Description for competitive clearing. Further details are available from LCH.Clearnet Ltd and SIX x-Clear AG websites.

Access to cleared markets

London Stock Exchange members that wish to trade on a cleared order book have to complete the relevant CCP Static Data Forms that can be found in the Downloads section at the bottom of this page.

Members should also review the relevant sections of the Exchange's rulebook as well as those of their chosen CCP.

Further information

Further information about central counterparty processing can be found at the following websites:

Downloads

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