LCH Clearnet (LCH-C) achieved an operating profit of E71.4m
for the first six months of this year, representing a 238%
increase year-on-year despite announcing a E47.8m loss relating
to its generic clearing system (GCS).
The clearinghouse announced in July that it would abandon
work on the GCS system, amounting to a total loss of
at least €70m (see FO Week Vol 11 No 30). The
system had been originally intended as an integrated platform
for the formerly separate entities, London Clearing House and
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