LSEG to provide technology for new Central and Eastern European CCP infrastructure

  • CCP.CEE to offer state-of-the-art clearing service for Central and Eastern European capital markets
  • Simple access for local, regional and international customers

London Stock Exchange Group ("LSEG“) today announced that it has been selected to provide clearing technology services for a new cross-market Central Counterparty (CCP) mechanism for Central and Eastern European (CEE) capital markets. The new platform, called CCP.CEE, will facilitate a standardised cross-regional clearing infrastructure for CEE markets, initially in Vienna, Prague, Ljubljana and Budapest.

The service, which will offer international, regional and local customers an advanced, real-time clearing solution, providing best-practice international clearing and risk management services, will begin its roll out in Vienna in mid-2012, with the Prague cash markets to follow soon after.

The agreement was signed with Austrian capital market infrastructure provider, OeKB, which is a 50 percent co-owner of Austria´s Clearinghouse, CCP.A.

Kevin Milne, Director of Post Trade Services at London Stock Exchange Group, said:

"We are delighted to have been selected to provide clearing technology services for the CEE Capital Markets. This will enable CEE markets to benefit from an advanced real-time clearing platform.  We look forward to working in partnership with CCP.CEE to expand this initiative within the CEE region.”

Georg Zinner, Director of Capital Markets at OeKB, said:

“We are excited to be partnering with London Stock Exchange Group as the provider of clearing technology services for CCP.CEE. LSEG offers a fully hosted, near turnkey state-of-the-art solution. Choosing this solution will enable the CEE markets to achieve the benefits of scale which only shared infrastructure can offer.”

The platform’s software has been designed by LSEG and developed by  leading global exchange technology provider, MillenniumIT. It will be operated by LSEG from its IT facilities in London and Milan.

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For further information, please contact:

Tom Gilbert /                                      Press Office +44 (0)20 7797 1222

Jonny Blostone                                  newsroom@londonstockexchange.com

 

Notes to editors:

About London Stock Exchange Group:

London Stock Exchange Group (LSE.L) sits at the heart of the world’s financial community. The Group operates a broad range of international equity, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS, Europe's leading fixed income market; and Turquoise, offering pan-European and US lit and dark equity trading. Through its markets, the Group offers international business unrivalled access to Europe’s capital markets.

The Group is a leading developer of high performance trading platforms and capital markets software and also offers its customers around the world an extensive range of real-time and reference data products and market-leading post-trade services. 

Headquartered in London, United Kingdom with significant operations in Italy and Sri Lanka, the Group employs around 1500 people. Further information on London Stock Exchange Group can be found at www.londonstockexchangegroup.com.