LCH.Clearnet will start offering clearing services to Galaxy, the multi trading facility (MTF) owned and operated by TradingScreen, from its launch in June 2011. The move is subject to regulatory approval. LCH.Clearnet will provide an automated and fully integrated solution from trading through clearing to settlement. The settlement instructions will be managed through the major International Central Securities Depositories and European national Central Securities Depositories. The service’s usage of existing connectivity will facilitate implementation and adoption by clients and allow them to clear a new asset class, using their current arrangements. Galaxy is certified by the Cassiopeia Committee for the provision of clearing services for euro-denominated bonds.
Click here for the release from LCH.Clearnet.